Don’t miss the latest developments in business and finance.

India's Service Sector Activity Witnesses Some Recovery In June

Image
Capital Market
Last Updated : Jul 03 2020 | 1:50 PM IST
India's services sector witnessed some recovery as the nation eased the restrictions imposed to contain the coronavirus pandemic. The India Services Business Activity Index, compiled by IHS Markit, stood at 33.7 in June compared with 12.6 in May, according to a media statement. A reading below 50, however, still indicates contraction in business activity. The Composite PMI Output Index, measuring combined services and manufacturing output, rose to 37.8 in June from 14.8 in May. Still, it remains below the crucial 50.0 level. The slower rate of decline was reflective of some stabilisation in activity with around 59% of firms reporting no change in output since May. Only 4% registered growth, while 37% recorded a reduction.

Powered by Capital Market - Live News

Also Read

First Published: Jul 03 2020 | 1:35 PM IST

Next Story