India's economic activity slows down in April as states impose lockdowns

Activity in India's dominant services sector moderated for a second straight month in April.

India’s economic activity showed signs of beginning to cool off in April as several states resorted to lockdowns to control a deadly second wave of the coronavirus.

Although the three-month weighted average scores of eight indicators tracked by Bloomberg News showed the pace of activity was unchanged from March, the single month reading pointed to weakness setting in.

Even more recent data from this month confirmed the softening trend in activity. A basket of high-frequency, alternative and market indicators such as retail activity and road congestion pointed to weakness in the week to May 16, Abhishek