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India’s factory slump deepens in May, headcount slides – PMI

BENGALURU: India’s factory activity contracted sharply in May following a historic decline in April as a government-imposed lockdown to control the coronavirus hammered demand, a survey showed, leading firms to cut jobs at the fastest pace on record. Asia’s third-largest economy will contract this quarter for the first time since the mid-1990s, a may Reuters […]Read More

India’s factory activity slumped to record low in April: PMI

BENGALURU: India’s manufacturing activity contracted at its sharpest pace on record in April as a lockdown to combat the rapid spread of the coronavirus led to a slump in demand and massive supply chain disruptions, a private sector survey showed on Monday. Asia’s third largest economy is taking a huge hit from the ongoing nationwide […]Read More

India’s March services activity contracts amid coronavirus disruptions

BENGALURU: India’s dominant services sector, the lifeblood for financial development and jobs, contracted in March as new enterprise and export demand fell sharply because the coronavirus pandemic wreaked havoc globally, a personal survey confirmed. Prime Minister Narendra Modi ordered India’s 1.three billion folks to remain house and shut retailers and enterprise promoting non-essential items for […]Read More