India’s factory activity contracts for 3rd straight month in June – ZAWYA

India’s factory activity contracts for 3rd straight month in June – ZAWYA

India's factory activity contracts for 3rd straight month in June | ZAWYA MENA Edition HomeEconomyGlobalArticleIndia's factory activity contracts for 3rd straight month in June Input and output prices declined for a third consecutive month in June    A worker wearing a protective face mask cleans a machine inside an undergarment factory after it was re-opened after a weeks-long shutdown to slow the spread of coronavirus disease (COVID-19), in Kolkata, India, April 20, 2020. BENGALURU - India's manufacturing activity contracted for a third straight month in June, albeit at a much shallower pace, as demand and output continued to suffer from three months of lockdowns to quell the spread of the coronavirus, a private survey showed.The virus has infected over half a million people in the world's second-most populous nation, stalling economic activity, but Wednesday's survey suggested the worst may be over for the economy, at least for now.While the Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, increased to 47.2 last month from 30.8 in May it was still below the 50-mark separating growth from contraction. Analysts polled by Reuters had expected 37.5.The virus has infected over half a million people in the world's second-most populous nation, stalling economic