India's April services activity hits near 13-year high

​The S&P Global India services Purchasing Managers' Index surged to 62.0, surpassing all expectations in a Reuters poll that had predicted a drop to 57.0. ​The growth in services, which accounts for roughly 60% of India's gross domestic product (GDP), presents an optimistic picture for the nation's economic prospects, at least in the short term.

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