Composite Purchasing Managers' Index at lowest since 2013
The Nikkei India Composite Purchasing Managers' Index, which tracks private companies' activity in both manufacturing and services sector, fell in December 2016 to its lowest level since October 2013 to stand at 47.6. The index read 49.1 for November, which means the private sector contracted for two consecutive months following the demonetisation decision. A reading below 50 implies contraction.