Services sector activity shrinks for 4th month


New Delhi, July 3

India’s services sector activity remained in deep downturn in June as the Covid-19 pandemic curtailed intakes of new work orders and disrupted business operations, a monthly survey said on Friday. The IHS Markit India Services Business Activity Index was at 33.7 in June, up from 12.6 recorded in May.

Despite the rise, the Indian services sector activity contracted for a fourth successive month in June. A print above 50 means expansion and a score below that denotes contraction, as per the IHS Markit India Services Purchasing Managers’ Index (PMI).

“India’s service sector continued to struggle in June as the country’s coronavirus crisis worsened,” said Joe Hayes, Economist at IHS Markit. — PTI





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