India's factory activity slows to 7-month low on renewed COVID-19 lockdowns
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Synopsis
The Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, declined to a seven-month low of 55.4 last month from February's 57.5, but remained above the 50-level separating growth from contraction for an eighth straight month.
Agencies
Last week, the Indian government advised federal states to try and control the rapid spread of the virus.
Manufacturing activity in India grew at its slowest pace in seven months, restricted by the Covid-19 pandemic with production and new orders expanding at softer rates and employment declining amid waning business confidence, a private survey showed Monday.