Euro zone business activity returned to modest growth in July as some curbs to stop the spread of coronavirus were lifted, but rebound in bloc's dominant service industry was not as sharp as expected
Keeping the economy locked costs lives too and it may not be a price worth paying
There is no sight of reform measures as well
The Nikkei India Manufacturing Purchasing Managers' Index (PMI) had already been on a downward curve registering 51.8 in March, much below January's eight-year high of 55.3
The findings, which focus mostly on small and export-oriented businesses, were backed by an equally grim official survey released on Saturday, which showed the steepest contraction on record
The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, fell to 54.5 last month from January's 55.3
It said Indian exporters of electronics, pharmaceuticals, speciality chemicals and automobile segments depend on China for raw material and are facing supply constraints
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Solid growth in demand was despite output prices rising at the fastest rate in nearly three years
Although business conditions in the Indian manufacturing sector improved in November, the rise, however, remained subdued
Total new orders shrank at their fastest pace since December 2012, while factory orders and future output were also in contraction
The index fell to 48.7 in September from 52.4 in August due to subdued demand.
On the prices front, input cost inflation moderated to one of the lowest rates seen in over a decade
Rising expectations for further monetary policy easing and recent measures announced by the government boosted business expectations to a 12-month high, the survey showed
April PMI data indicated that softer increase in new orders restricted growth of output, employment and business sentiment
Optimism among manufacturing firms ebbed in April as they remain concerned about what policies the new government will adopt when it takes office by end-May
Should augur well for Q3 GDP growth, tweets Economic Affairs Secretary Subhash Garg