India’s factory activity grew in August for the first time in five months as the easing of lockdown restrictions spurred a rebound in domestic demand, a private business survey showed on Tuesday, though firms continued to cut jobs.
But the bounce is unlikely to signal a quick turnaround in the Indian economy, which contracted at its steepest pace on record of 23.
9 per cent annually last quarter. It was expected to remain in recession this year, a Reuters poll showed on Friday.
The Nikkei Manufacturing Purchasing Managers’.....