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India s services activity shrank again in July, outlook turned pessimistic

Reuters 2 minute read Waiters wait for customers at a dhaba, a small restaurant along a national highway in Gharaunda, in the northern state of Haryana, India, June 17, 2021. Picture taken on June 17, 2021. REUTERS/Adnan Abidi/File Photo BENGALURU, Aug 4 (Reuters) - Activity in India s dominant services industry shrank for a third consecutive month in July as restrictions to control the coronavirus pandemic hit demand, with companies turning the most pessimistic in a year, a private survey showed on Wednesday. Restrictions imposed by local governments to curb the devastating second wave of COVID-19 were relaxed over the past few months following a drop in infection rates, but the threat of a third wave has cast a shadow over the already weak economic outlook. read more

Services Activity Shrank Again In July, Outlook Turned Pessimistic

Services Activity Shrank Again In July, Outlook Turned Pessimistic Services Activity Shrank Again In July, Outlook Turned Pessimistic Although the Services Purchasing Managers Index, compiled by IHS Markit, rose to 45.4 in July from 41.2 in June it stayed firmly below the 50-level. Updated: August 04, 2021 11:48 am IST Activity in the country s dominant services industry shrank for a third consecutive month in July as restrictions to control the coronavirus pandemic hit demand, with companies turning the most pessimistic in a year, a private survey showed on Wednesday. Restrictions imposed by local governments to curb the devastating second wave of COVID-19 were relaxed over the past few months following a drop in infection rates, but the threat of a third wave has cast a shadow over the already weak economic outlook.

Service sector stuck in contraction, business activity falls again: IHS Markit

Toggle navigation IHS Markit is a world leader in critical information, analytics and solutions for the major industries and markets. Service sector stuck in contraction, business activity falls again: IHS Markit ANI | Updated: Aug 04, 2021 13:45 IST New Delhi [India], August 4 (ANI): The Indian service sector remained in the red during July largely due to Covid-19 pandemic and local restrictions, according to the latest IHS Markit Services Purchasing Managers Index (PMI) released on Wednesday. Business activity, new orders and employment declined further but in all cases rates of contraction moderated from June. Looking ahead, firms were pessimistic about the 12-month outlook for output for the first time in a year.

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