 "gdp, growth, forecast, profit, economy, manufacturing")
India’s domestic factory orders and production contracted for the first time in 11 months in June as restrictions to contain the Covid-19 pandemic put manufacturing into “reverse gear”.
The IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) slipped to 48.1 in June from 50.8 in May, moving below the 50-level separating growth from contraction.
The factory output averaged 51.5 in the opening quarter of 2021-22, the lowest three-month figure since the year-ago quarter, according to the survey.
“The intensification of the Covid-19 crisis in India had a detrimental impact on the manufacturing economy,” said Pollyanna De Lima, economics associate director at IHS Markit.
