India's service sector registered impressive growth in May 2025, as indicated by the latest S&P Global Services Purchasing Managers' Index (PMI). The index, a critical economic indicator that provides insights into the health of the services sector, has climbed to 61.2, up from 58.7 in April, highlighting robust expansion.
This recent surge signifies the highest level of service sector activity recorded in recent months, underscoring a significant uptick in business activity and new order growth. Analysts associate this positive momentum with strong economic fundamentals and rising consumer confidence in the market. The PMI reading above 50 indicates expansion, and the shift to 61.2 marks a stronger pace of improvement than witnessed last month.
Market experts believe this uptick could signal sustained economic recovery and resilience in India’s service sector. This data update released on 22 May 2025 reflects optimism in the sector's future, presenting a positive outlook for the upcoming months. Economists and market participants will be closely watching how this momentum plays into broader economic trends as the year progresses.
