Services sector activity at 3-mth low in April

New Delhi, May 5

India’s services sector activities eased to a three-month low in April, as the rise in business activity was constrained by the pandemic and sentiment towards growth prospects faded, a monthly survey said on Wednesday.

The seasonally adjusted India Services Business Activity Index fell to 54 in April from 54.6 in March, the slowest increase in output in three months.

In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.

“The PMI results for April showed a more resilient economic performance for the service sector than expected given the escalation of the Covid crisis in India,” said Pollyanna De Lima, Economics Associate Director at IHS Markit. — PTI