Covid blues: Services PMI slump eases a tad

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August 06, 2020 7:57 AM

A contraction in the services sector narrowed in July, but still stayed far from normal, as "ongoing lockdown restrictions stifled demand and forced companies to cease operations".

Services PMI, lockdown restrictions, services sector, economy newsServices PMI stood at 34.2 in July, against 37.7 in June.

A contraction in the services sector narrowed in July, but still stayed far from normal, as “ongoing lockdown restrictions stifled demand and forced companies to cease operations”.

Services PMI stood at 34.2 in July, against 37.7 in June. The sector has shrunk for a fifth straight month–the longest streak since a 10-month run to April 2014.

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