Retail trade leads services output growth at 19.9% in August, air transport contracts: MoSPI

Retail trade recorded the highest year-on-year growth among India's services sub-sectors in August 2026 at 19.9 per cent, followed by real estate at 17.6 per cent and insurance at 16.5 per cent, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Thursday.

Retail trade recorded the highest year-on-year growth among India's services subsectors in August 2026, at 19.9 per cent, followed by real estate and repair services at 17.6 per cent each, and insurance at 16.5 per cent, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Thursday. Banking services registered growth of 14.9 per cent, while IT and computer-related services expanded by 13.8 per cent during the month.

Air transport and arts, entertainment and recreation services were the only two subsectors among the 19 covered by the data to record contractions, declining by 9.6 per cent and 4.7 per cent, respectively, on a year-on-year basis. The figures were released as part of MoSPI's Sub-Sectoral Trial Index of Services Production (ISP) for August 2026, with the base year 2024-25.

The index tracks monthly changes in output across selected services sub-sectors, including trade, transport, financial services, telecommunications, real estate and information technology. According to the release, the data presents "sub-sector wise growth in ISPs in August, 2026 over August, 2025."

The latest figures showed positive year-on-year growth in 18 of the 19 services sub-sectors covered by the index. The ISP is currently being released as a trial series to measure changes in services production across different segments of the economy.

Unlike broader indicators of economic activity, the index focuses on changes in output in individual services sub-sectors, providing monthly data on their performance. The ministry uses 2024-25 as the base year for the trial index, allowing comparisons of services production over time.

The latest release provides the August 2026 readings along with historical monthly data for the covered sub-sectors. (ANI)