Key Points
After a strong gross domestic product (GDP) growth estimate, we have further cause for optimism in the latest purchasing managers index readings for the manufacturing and service sectors..
The HSBC India Services Purchasing Managers Index (PMI) clocked a robust 60.6 in February..
Meanwhile, the PMI for the manufacturing sector, announced earlier, climbed to a five-month high of 56.9 in February..
As services account for most of Indias GDP, strength in this sector is crucial for the economy to stay on its high-growth path and accelerate..
Manufacturing has in the past underwhelmed, although its recent performance, exhibited not only in the PMI but also in GDP data, helps brighten the outlook further..
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