India's factory activity falters in November as Covid-19 fears persist: PMI

India’s manufacturing recovery faltered in November as coronavirus fears weighed on demand and output, prompting firms to cut jobs for the eighth month in a row, a survey showed.

Asia’s third-largest economy and the second most affected country by the pandemic contracted 7.5% in the July-September quarter, compared to a record 23.9% slump in the previous quarter amid some signs of a recovery in manufacturing, official data showed on Friday. 

But the Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, declined to 56.3 in November from October’s more than a decade high of 58.9, although it well above the 50-level separating