Factory output takes hit as demand falls; PMI manufacturing at 46 in July


India's factory slump deepened in July as renewed lockdown measures to contain surging coronavirus cases weighed on demand and output, raising the chances of a sharper economic contraction, a private business survey showed on Monday.

Asia's third-largest economy, which has the third-highest coronavirus caseload globally, is expected to shrink at its sharpest pace since 1979 this fiscal year, a Reuters poll found last week. Reinforcing that grim outlook, the Nikkei Manufacturing Purchasing Managers' Index, compiled.....

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