India's services sector contracts to five-month low

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India's services sector contracts to five-month low

Apr 06, 2020 14:14 IST

India’s dominant services sector contracted in March as new business and export demand fell sharply as the coronavirus pandemic wreaked havoc globally, a private survey showed. The IHS Markit Services Purchasing Managers’ Index fell sharply to a five-month low of 49.3 in March from February’s seven-year high of 57.5.

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