Overview
- The government released the second sub-sectoral trial Index of Services Production on Wednesday and reported that 16 of 19 formal services sub-sectors grew year on year for May 2026.
- Eight sub-sectors recorded double-digit annual gains in May, marking continued strength after April’s maiden trial release.
- Top performers in May included accommodation and food services (27.4%), real estate (17.7%), retail trade (13.3%), banking (12.1%), and telecommunications (11.8%).
- Three sub-sectors contracted in May: information and broadcasting fell 7.6%, air transport dropped 2.8%, and postal and courier services declined 1.0%.
- MoSPI cautioned the series is experimental and some component indices—notably railways, banking and insurance—use provisional monthly data that will be revised annually, so users should treat early readings as subject to change while they test the new monthly measure.