FOREX TradingCharts.com

Financial News: India Services Sector Deteriorates Sharply In May

India Services Sector Deteriorates Sharply In May

06/03/2021 - 07:42:00 (RTTNews)

(RTTNews) - India's service sector activity contracted sharply in May, survey results from IHS Markit showed on Thursday.

The IHS Markit services Purchasing Managers' Index fell to 46.4 in May from 54.0 in April.

Economists had forecast a score of 49.0. Any reading below 50.0 indicates contraction in the sector.

New work intakes declined for the first time since September last year and new export business fell at the quickest rate in six months.

The 12-month outlook increased in May and the overall degree of optimism weakened to the lowest since August last year.

The number of workforce decreased in May and outstanding business volume rose further.

Input prices and output charges increased in May. The rate of inflation remained sharp.

The survey showed that the composite output index, which combines services and manufacturing output, fell to 48.1 in May from 55.4 in the prior month.

"The intensification of the COVID-19 crisis and associated restrictions suppressed domestic and international demand for Indian services," Pollyanna De Lima, economics associate director at IHS Markit, said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Greece Current Account Deficit Widens In April (13 hr(s), 27 min(s), 04 sec(s) ago)
(RTTNews) - Greece's current account deficit widened notably in April from the last year due t ...Full Story»

UK Inflation Expectations Slow In May: BoE/Kantar Survey (13 hr(s), 42 min(s), 04 sec(s) ago)
(RTTNews) - Britons' inflation expectations for the coming year slowed in May, the latest Bank ...Full Story»

Portugal Producer Prices Accelerate In May (15 hr(s), 20 min(s), 04 sec(s) ago)
(RTTNews) - Portugal's producer prices accelerated in May, figures from Statistics Portugal sh ...Full Story»

UK Retail Sales Decline In May (15 hr(s), 35 min(s), 04 sec(s) ago)
(RTTNews) - UK retail sales dropped in May as the reopening of all retail sectors and the easing o ...Full Story»

Croatia Jobless Rate Falls In May (16 hr(s), 31 min(s), 04 sec(s) ago)
(RTTNews) - Croatia's jobless rate declined in May, figures from the Croatian Bureau of Statis ...Full Story»

Eurozone Current Account Surplus Rises In April (17 hr(s), 39 min(s), 04 sec(s) ago)
(RTTNews) - The euro area current account surplus increased in April, the European Central Bank re ...Full Story»

Poland Average Gross Wages Rise In May (17 hr(s), 54 min(s), 04 sec(s) ago)
(RTTNews) - Poland's average gross wages rose in May, data from Statistics Poland showed on Fr ...Full Story»

BoJ Keeps Stimulus Unchanged; Mulls Funding Plans To Address Climate Change (18 hr(s), 58 min(s), 04 sec(s) ago)
(RTTNews) - The Bank of Japan maintained its massive monetary stimulus and announced the introduct ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Greece Current Account Deficit Widens In April

06/18/2021 - 09:10 AM (RTTNews)
(RTTNews) - Greece's current account deficit widened notably in April from the last year due t ...Full Story>>

UK Inflation Expectations Slow In May: BoE/Kantar Survey

06/18/2021 - 08:55 AM (RTTNews)
(RTTNews) - Britons' inflation expectations for the coming year slowed in May, the latest Bank ...Full Story>>

Portugal Producer Prices Accelerate In May

06/18/2021 - 07:17 AM (RTTNews)
(RTTNews) - Portugal's producer prices accelerated in May, figures from Statistics Portugal sh ...Full Story>>

UK Retail Sales Decline In May

06/18/2021 - 07:02 AM (RTTNews)
(RTTNews) - UK retail sales dropped in May as the reopening of all retail sectors and the easing o ...Full Story>>

Croatia Jobless Rate Falls In May

06/18/2021 - 06:06 AM (RTTNews)
(RTTNews) - Croatia's jobless rate declined in May, figures from the Croatian Bureau of Statis ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.