The S&P Global Service Purchasing Managers' Index (PMI) has slightly decreased to 55.2 in its latest release.

This current figure is lower than last month's 55.7 but remains above the forecasted 55.4.

Despite this slight decrease, the PMI of 55.2 still signals positive growth in the service sector.

A PMI level above 50 indicates growth in the service sector, while below 50 indicates contraction.

The resilience of the PMI underscores the expanding service sector and solid footing of the US economy.

The continued strength of the PMI is generally supportive for the USD and suggests a healthy economy.

The Service PMI is a key economic indicator that analysts and investors monitor closely.

The actual PMI figure exceeding forecasts is a positive sign for both the service industry and the overall economy.

Any PMI figure above 50 indicates growth, mitigating concerns over the recent dip.

The PMI is based on surveys from over 400 executives in various private sector service industries.