FX.co ★ India's Service Sector Growth Sees Marginal Improvement in May

The S&P Global Services PMI for India has seen a slight uptick, mounting to 58.8 in May 2025 from the earlier 58.7 recorded in the same month. This marginal increase suggests a steady expansion in the country's service sector despite global economic uncertainties.

The data updated on June 4, 2025, reflects a continued positive momentum for India's service industries, reinforcing optimistic sentiments around economic resilience. The PMI readings above 50 signal growth, and India's consistent above-58 figures mark a period of robust activity, as businesses in various service sectors, from IT to banking, navigate a fluctuating global market with increasing adeptness.

Economists view this consistent growth as a sign of strength in India's service landscape, expecting it to play a pivotal role in maintaining the country's broader economic stability. The service sector's performance could serve as a buffer, easing potential pressures from other economic segments as global inflation and geopolitical tensions persist.