India's factory activity shrinks in June for first time in 11 months

The Nikkei Manufacturing Purchasing Managers' Index compiled by IHS Markit, declined to an 11-month low of 48.1 in June from May's 50.8

India's factory activity contracted for the first time in almost a year in June as restrictions to contain the deadly second wave of the coronavirus triggered declines in demand and output that pushed firms to cut more jobs, a private survey showed on Thursday.

Although many Indian states have recently relaxed some containment measures following a decrease in daily cases the rapid emergence of the new Delta Plus variant has raised concerns over the nation's already weak economic outlook. read more

The Nikkei Manufacturing Purchasing Managers' Index (INPMI=ECI), compiled by IHS Markit, declined to an 11-month low of 48.1 in June from