New Delhi, July 5 (TIWN) The second wave of the Covid-19 pandemic heavily dented India's service sector output in June, which contracted at the fastest pace since July 2020.

Besides, the survey data indicated that services firms endured further losses of new business as the emergence of the pandemic and the reintroduction of containment measures restricted demand.

Consequently, the seasonally adjusted India Services Business Activity Index contracted to 41.2 (index value) in June, down from 46.4 reported in May.

The seasonally adjusted index reading remained above the critical 50-mark that separates growth from contraction.