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Covid curbs still subdue India s services sector output: PMI
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India s service sector remained in contraction territory for third straight month in July: PMI
The seasonally adjusted India Services Business Activity Index rose from 41.2 in June to 45.4 in July, but was stuck in the red due to subdued demand conditions amid the COVID-19 crisis. Looking ahead, firms were pessimistic about the 12-month outlook for output for the first time in a year (Source: PTI) PTI
Updated Aug 04, 2021, 12:21 PM IST
India s services sector remained in contraction territory for the third straight month in July, as business activity, new orders and employment declined further largely due to the COVID-19 pandemic and local restrictions, a monthly survey said on Wednesday.
Indian service sector stuck in contraction territory for third straight month in July: PMI
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Last Updated: Aug 04, 2021, 11:35 AM IST
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Synopsis
The seasonally adjusted India Services Business Activity Index rose from 41.2 in June to 45.4 in July, but was stuck in the red due to subdued demand conditions amid the COVID-19 crisis.
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Overall demand in the sector shrank again last month.
India s services sector remained in contraction territory for the third straight month in July, as business activity, new orders and employment declined further largely due to the COVID-19 pandemic and local restrictions, a monthly survey said on Wednesday.