Quote on the latest ISP release by Pranjal Ghate, Economist, at Brickwork Ratings
Below the Quote on the latest ISP release by by Pranjal Ghate, Economist, Brickwork Rating
"The August 2026 Index of Services Production (ISP) figures suggest strong momentum in service production, with 17 out of 19 sectors showing positive YoY growth and 13 reaching double-digit expansion. Retail trade (19.9%) led the expansion, likely supported by improving consumer demand ahead of the festive season. Meanwhile, strong growth in real estate (17.6%), repair services (17.6%), and banking (14.9%) points to resilient domestic activity. The two sectors that contracted were Air transport and Arts and recreation. The Air transport decline probably occurred due to higher airfares caused by elevated fuel prices from the West Asia crisis, and DGCA's passenger traffic data supports this claim. Overall, the figures point to resilient domestic demand supporting services activity, and as a newly introduced experimental series, the ISP is a welcome addition to India’s statistical framework"
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