The services sector contributes about 55 per cent to the country's gross domestic product
Cereals, oil meals and dairy & poultry products too recorded negative growth during the month
The pace of contraction in May was the lowest since November 2014, fuelling optimism that the decline in exports has petered out
Sitharaman said many labour intensive sectors have been holding out and are now picking up
Lowest rate of fall since November 2014 buoys hope of turnaround soon
Down 6.7%; contraction in non-oil, non-gold import also expands