Factory output contracts for 1st time in 2016 over note ban
The Nikkei India Manufacturing Purchasing Managers’ Index (PMI), a monthly indicator of the manufacturing sector's economic health, recorded below the crucial 50.0 threshold for the first time in 2016 at 49.6 during December. The contraction was indicative of the negative impact of the demonetisation of high-value currency. The index fell to 52.3 in November from a 22-month high in October. 