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.