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Growth in services sector dips in March as virus curbs demand

city New Delhi India covid-19 outbreak pandemic economy
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The pandemic had a far-reaching impact on the ability of firms to source new work intakes from abroad NEW DELHI : Growth in India’s services sector contracted in March after posting the strongest rise in business activity in more than seven years in February, as the covid-19 outbreak dented demand, particularly in overseas markets, a survey by IHS Markit showed.

The impact of the pandemic is set to worsen in the coming months with the government enforcing an unprecedented 21-day nationwide lockdown from 25 March which has left industries and shops shut, the data analytics firm said.

The Services Purchasing Managers’ Index (PMI), which had touched an 85-month high of 57.5 in February, fell to 49.3 after rising for five consecutive months,

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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