Latest survey reveals service sector moderation: Despite a slight dip in the HSBC Services Purchasing Managers' Index (PMI) for April, down to 60.8 from March's 61.2, robust growth has been maintained since August 2021. Composite PMI softens marginally to 61.5 from 61.8, still one of the highest readings in 14 years. Manufacturing PMI, a vital gauge of economic health, considers new orders, output, employment, suppliers' delivery times, and stock. With a reading above 50 signalling expansion, it remains a key indicator for business decisions and future economic activity.
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