India's services activity shrank again in July, outlook turn

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

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