Synopsis
Lockdowns across the country to curb the second wave of Covid dampened demand, prompting firms to cut jobs at the fastest pace since October, according to Nikkei/IHS Markit Services Purchasing Managers Index.
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Activity in India s services sector contracted in May- to 46.4 from 54.0 in April- for the first time in eight months.
Lockdowns across the country to curb the second wave of Covid dampened demand, prompting firms to cut jobs at the fastest pace since October, according to Nikkei/IHS Markit Services Purchasing Managers Index.
Overall demand contracted at the sharpest rate since August, with foreign demand shrinking at the fastest pace since November.