Covid-19: Biz sentiment sinks to record low; mfg activity down in March

"The most prominent signs of trouble came from the new export orders and future activity indices, which respectively indicated tumbling global demand and softening domestic confidence," Kerr noted.

The country's manufacturing sector activity grew at the slowest rate in four months during March, hampered by softer rises in new business as international demand faltered owing to the coronavirus pandemic, a monthly survey said on Thursday.

IHS Markit India Manufacturing PMI fell to 51.8 in March, from 54.5 in February, signalling the slowest improvement in business conditions since November 2019. This is the 32nd consecutive month that the manufacturing PMI has remained above the 50-point mark.

In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction. "The Indian manufacturing sector remained relatively sheltered