India's Service Sector Activity Sees Sharp Contraction In May

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Capital Market
Last Updated : Jun 03 2021 | 3:05 PM IST
India's services sector activity contracted for the first time in eight months following a severe second wave of the Covid-19 pandemic. The India Services Business Activity Index, compiled by IHS Markit, tanked to 46.4 in May compared with 54 in April, marking the lowest reading in nine months. A reading above 50 indicates expansion in business activity.

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First Published: Jun 03 2021 | 2:43 PM IST

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