Factory output falls from 22-month high to 52.3 in Nov
The Nikkei India Manufacturing Purchasing Managers’ Index (PMI), a monthly indicator of manufacturing sector's economic health, fell to 52.3 in November from a 22-month high in October. This followed a cash crunch post demonetisation, which slowed domestic consumption, production, and new orders. PMI data showed that withdrawal of high-value notes caused problems for manufacturers, analysts said.