Ministry of Statistics Releases Experimental Services Production Index for May 2026
The Ministry of Statistics & Programme Implementation (MoSPI) has released the trial Index of Services Production (ISP) for May 2026 with base year 2024-25, covering 19 sub-sectors of the services economy. This experimental publication aims to examine data quality, test resilience, and gather stakeholder feedback before formal adoption.
The index reveals significant variation across sub-sectors, with accommodation and food services showing the strongest year-on-year growth at 27.4% (ISP: 148.9), followed by real estate at 17.7% (ISP: 113.3) and retail trade at 13.3% (ISP: 138.1). Banking services grew 12.1% (ISP: 120.2), telecommunications increased 11.8% (ISP: 114.8), and IT and computer-related services expanded 10.3% (ISP: 109.2).
Several sectors showed moderate growth: warehousing and support activities for transportation (11.5%), professional, scientific & technical services including R&D (11.0%), repair services (9.8%), water transport (5.6%), administrative and support services (5.0%), road transport (4.4%), wholesale trade (3.7%), railway transport (3.4%), and insurance (2.7%). Arts, entertainment and recreation services showed minimal growth at 1.6% (ISP: 140.6).
Negative growth was recorded in air transport (-2.8%, ISP: 99.9), postal and courier (-1.0%, ISP: 98.0), and information and broadcasting (-7.6%, ISP: 100.8).
The annexure provides monthly indices from May 2025 through May 2026, showing historical trends for all 19 sub-sectors. The indices for railways, banking, and insurance are based on provisional monthly data and will undergo annual revision. The data is available on the Ministry's website and through the eSankhyiki portal.