India's manufacturing shrank in August for the first time in over four years, dealing a fresh blow to efforts to boost a slumping currency, as rival China's factory activity rebounded, figures showed Monday.
Employees assemble Vespa scooters at Baramati in the western Indian state of Maharashtra on April 28, 2012. India's manufacturing shrank for the first time in over four years in August, dealing a fresh blow to efforts to boost a slumping currency, figures showed Monday, as rival China's factory activity rose.
HSBC's Purchasing Managers' Index (PMI) for India, which gives a snapshot of manufacturing health, tumbled to an unexpected low of 48.5 in August from 51.1 in July, amid a fall in orders.
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