India, July 4 -- Growth in India's services activity, as measured by the Services Purchasing Manager's Index (PMI), rose to a ten-month high in June mainly due to a sharp rise in domestic new orders, according to a release from S&P Global on Thursday. The seasonally adjusted HSBC India Services Business Activity Index came in at 60.4 in June up from 58.8 in May and the highest since August 2024 when it was 60.9. The PMI services number was also nearly in line with the services flash PMI of 60.7, released last month. The June reading was above the 50-mark, which indicates expansion over the previous month. The index has remained above 50 for four years now. "The Services PMI business activity index was up to a ten-month high, led by a sharp rise in new domestic orders. New export orders also expanded, albeit at a softer pace," said Pranjul Bhandari, chief India economist at HSBC. New orders grew at the fastest pace since August 2024, primarily within the domestic economy. Growth in export orders fell to the slowest rate in three months, but still remained among the strongest seen since the start of its addition to the series. Data for sector-wise growth showed that expansions in output and new orders remained broad-based in June, as per the release. The categories of Finance and Insurance had the quickest growth, while Real Estate and Business Services was the weakest. Employment rose once again in June, but the growth rate was slower than that in May. To be sure, it was still above the long-run average. The rate of inflation in input costs fell to the lowest in ten months and also slipped below the long-run average. Despite, the rise in prices of final products being slower than that in May, it still remained above the series trend. Companies were able to pass on cost pressures to consumers, according to the release. The Consumer Services category had the strongest rise in cost pressures, while the quickest pace of growth for retail prices was seen in the Finance and Insurance segments. "Margins improved, as the rise in input costs was below that seen for output charges. Service providers remained optimistic about future growth, though their confidence faded a tad," added Bhandari. With a rise in the services PMI numbers, manufacturing PMI also rose to a 14-month high in June, as per data released on July 1....