Services index shows growth across 16 sub-sectors

The government on Wednesday released the second trial sub-sectoral Index of Services Production (ISP), which showed that 16 of the 19 formal services sub-sectors recorded positive growth in May 2026, while eight registered double-digit growth.

The Ministry of Statistics & Programme Implementation (MoSPI) released the Index of Services Production for May 2026 based on 19 sub-sectors, with 2024-25 as the base year.

According to the statistics ministry, all categories recorded positive year-on-year growth in May 2026 except air transport, post & courier, and information and broadcasting.

Air transport declined by 2.8 per cent, post & courier fell by one per cent, while information and broadcasting contracted by 7.6 per cent during the month.

The strongest-performing sub-sectors in May 2026 were Accommodation and Food, which grew by 27.4 per cent, followed by Real Estate at 17.7 per cent, Retail Trade at 13.3 per cent, Banking at 12.1 per cent, and Telecommunications at 11.8 per cent, according to the index.

The maiden trial sub-sectoral ISP for April 2026 was released on July 14, 2026.

The ministry said the monthly ISPs are being published on an experimental basis.

“The publication of Trial Series would enable MoSPI to examine data quality, test its resilience and also receive feedback from stakeholders and users,” the ministry said.

It added that the indices for the Railways, Banking and Insurance sub-sectors are based on provisional monthly data and would undergo revision on an annual basis.