The S&P Global India Services PMI for the month of February 2024 has shown a slight dip to 60.6 from the previous indicator of 61.8. This key economic indicator measures the performance of the Indian services sector and is closely watched by analysts and investors for insights into the country's economic health. Despite the slight decrease, a PMI reading above 50 still indicates expansion in the sector, highlighting the continued growth of India's services industry.
The data, updated on 5th March 2024, reveals the ongoing strength of the services sector in India, contributing to the overall economic stability and growth of the country. Market participants will be monitoring future PMI releases to gauge the trajectory of the services industry and its impact on the broader Indian economy.
