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Following demonetisation, the manufacturing sector contracted in December as new work orders and output took a knock for the first time in 2016.
The Nikkei Markit India Manufacturing Purchasing Managers’ Index (PMI) — an indicator of manufacturing activity — fell to 49.6, down from 52.3 in November.
The index came in below the crucial 50 threshold — which separates contraction from expansion — for the first time in 2016 in December.
From Agencies, Feature image courtesy sprottmoney
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