Economics
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
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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.