Department of Statistics and Information Management, Reserve Bank of India
Online published on 23 May, 2013.
Information on services GDP is available on a quarterly basis only after two months’ lag. Unlike Index of Industrial Production (IIP) for industry which is released every month by CSO, there is no separate index being constructed to gauge short-term changes in service sector performance. The paper is an attempt in this direction which constructs a monthly/Quarterly series of Service Sector Index for gauging changes in GDP-Services. This composite index that combines various high frequency service sector performance indicators is expected to find its use in many decision making processes of monetary policy.
