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Economy

India’s services activity shrinks for fifth straight month

BENGALURU: India’s dominant services industry, a key driver of economic growth, shrank for a fifth straight month in July as restraining measures to stop the spread of the coronavirus hurt business activity and led to record job cuts, a survey showed.

Economy

China factory activity expands at fastest pace in nearly a decade

BEIJING: China’s factory activity expanded at the fastest pace in nearly a decade in July as domestic demand continued to improve after the coronavirus crisis, though export orders and employment remained weak, a private business survey showed.