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Local Lockdowns Temper India’s Economic Activity in April

  • Services sector expansion slowed as demand hurt by lockdowns
  • Exports gains were largely because of favorable base effect
A man reads newspaper outside closed stores in a near-empty street during lockdown in Pune, Maharashtra, earlier in May.
A man reads newspaper outside closed stores in a near-empty street during lockdown in Pune, Maharashtra, earlier in May.Photographer: Dhiraj Singh/Bloomberg

India’s economic activity showed signs of beginning to cool off in April as several states resorted to lockdowns to control a deadly second wave of the coronavirus.

Although the three-month weighted average scores of eight indicators tracked by Bloomberg News showed the pace of activity was unchanged from March, the single month reading pointed to weakness setting in.