India's factory activity contracts for third straight month in June

While the Nikkei Manufacturing Purchasing Managers' Index increased to 47.2 last month from 30.8 in May it was still below the 50-mark separating growth from contraction

India's manufacturing activity contracted for a third straight month in June, albeit at a much shallower pace, as demand and output continued to suffer from three months of lockdowns to quell the spread of the coronavirus, a private survey showed.

The virus has infected over half a million people in the world's second-most populous nation, stalling economic activity, but Wednesday's survey suggested the worst may be over for the economy, at least for now.

While the Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, increased to 47.2 last month from 30.8 in May it was still below the 50-mark separating growth