India’s HSBC Services PMI Final for the latest period registered at 60.9, marking a decrease from the previous reading of 63.2. This represents a decline of 2.3 points, indicating a slower pace of growth in the services sector.
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The actual PMI figure of 60.9 fell short of the analyst estimate of 62.5, suggesting weaker-than-expected service sector activity. This shortfall may prompt a negative sentiment in the stock market, particularly affecting sectors reliant on service growth, such as hospitality and retail. The impact is likely to be short-term as investors reassess growth expectations in the services sector.