Manufacturing activity hits 1-yr low in Jan: SBI
According to an SBI report, manufacturing activity in India was down to a one-year low in January. The yearly SBI Composite Index dipped below the 50-mark to 47.3 in January, indicating "moderation in economic activity". Construction, steel and textile are some of the sectors causing the slump, SBI added. A reading below 50 indicates contraction while above 50 indicates expansion.