Overview
- The Centre's fifth trial Index of Services Production, released Thursday, Oct. 29, recorded a 14.0% year‑on‑year gain for August and showed 17 of 19 tracked sub-sectors expanding.
- Thirteen sub-sectors posted double‑digit growth, with retail trade the fastest at +19.9% and other strong performers including real estate, repair services, banking and IT services.
- Air transport contracted 9.6% in August for the fourth straight month because of the West Asia conflict and Pakistan’s airspace closure, while road and water transport grew about 9% each.
- The ISP covers roughly 60% of the services sector and uses inflation‑adjusted turnover as a proxy for real services output, making it a monthly counterpart to the Index of Industrial Production.
- MoSPI says the series is experimental and may be revised; economists and the RBI are likely to watch it closely for signals on near‑term GDP and domestic demand, and further methodological validation is planned.