Indian Services Sector Output Stabilised in Sept, But Job Losses Widen Due to Covid-19, Says Survey

Indian service sector output broadly stabilised in September but remained in the contraction zone as incoming new business fell moderately due to the damaging impact of the pandemic on demand, leading to more job losses, a monthly survey said on Tuesday. The seasonally adjusted India Services Business Activity Index rose for the fifth straight month in September to 49.8 from 41.8 in August.

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