The slowdown in the manufacturing sector underscores the fragility of the ongoing economic recovery in China, as Beijing grapples with a resurgence of local Covid-19 cases in northern China
Indian economy will need careful policy handling
One area that failed to show an improvement was employment, with jobs being shed once again at the end of 2020
The annual wholesale price index rose in November, mainly because of an increase in prices of manufacturing items
While all three broad areas of the manufacturing industry recorded expansion, consumer goods segment led the growth, the only sector to see a stronger rate of increase
The companies indicated that sales growth was underpinned by resilient demand, though curbed by the Covid-19 pandemic
Asia's third-largest economy and the second most affected country by the pandemic contracted 7.5% in the July-September quarter
The bloc's economy is on track for its first double-dip recession in nearly a decade as a second wave of the coronavirus sweeps across Europe, a Reuters poll suggested last week
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Some believe recent indicators like GST numbers are overstated, most are sceptical about the impact of a stubborn pandemic
Upturn in total sales was supported by a renewed expansion in new export orders, says index
E-way bills, after showing an uptrend since April, stagnated in August
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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