Question

how corona lockdown effect service sector​

Answer 1

Answer:

• That mirrors a sharp deceleration in global activity as the coronavirus pandemic paralyzes economies, with evidence mounting that the world is sliding into recession.

• The Nikkei/IHS Markit Services Purchasing Managers' Index INPMIS=ECI fell sharply to a five-month low of 49.3 in March from February's seven-year high of 57.5, below the 50-mark separating growth from contraction for the first time since October.

• Prime Minister Narendra Modi ordered India's 1.3 billion people to stay home and shut shops and business selling non-essential goods for 21 days from March 25 to try and contain the virus spreading, suggesting April's downturn will be more severe.

• Services sector, the lifeblood for economic growth and jobs, contracted in March as new business and export demand fell sharply as the coronavirus pandemic wreaked havoc globally, a private survey showed.

• Activity in service sector contracted in March due to the fall in export demand globally and also because of Prime Minister Modi's appeal to stay indoors and shutting non-essential business shops

Explanation:

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