Factory activity contracts

News:
  • As per a private survey, India’s manufacturing activity contracted for a third straight month in June.
  • Demand and output continued to suffer from 3 months of lockdowns to quell the COVID-19 spread.
More in the news:
  • The Nikkei Manufacturing Purchasing Managers’ Index (PMI), compiled by IHS Markit, increased to 47.2 last month from 30.8 in May.
  • Anything below the 50-mark indicates the contraction.
  • The recent spike in new COVID-19 cases and the resulting lockdown extensions have seen demand continue to weaken.
  • Input and output prices declined for a third consecutive month in June, and manufacturers continued to cut staff.
Posted by Jawwad Kazi on 2nd Jul 2020
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