India services growth slows to 9.5% in May 2026
India's services sector lost some steam in May 2026, with growth dropping to 9.5% from a rapid 20.5% in April, according to calculations by The Indian Express.
Even with this slowdown, services are still growing almost twice as fast as the industrial sector, which clocked in at just 5%.
ISP shows most services still expanding
The Index of Services Production (ISP) tracks 19 areas using GST data (think IT, travel, and food) but leaves out health and education for now.
Accommodation and food services cooled down but still grew by more than 27%, while IT services saw growth slow to about 10%.
Railways bounced back into positive territory after a rough April, and air travel shrank less than before.
Overall, most service areas kept expanding, even if things aren't moving quite as fast as last month.