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HSBC PMI: falling manufacturing output

The HSBC Purchasing Managers’ Index (PMI) recorded above the no-change threshold for the 51st consecutive month in June. At 50.3, up slightly from 50.1 in May, the latest index reading was consistent with a marginal expansion of the country’s manufacturing sector.
Total new orders fell for the first time since March 2009 during June, although marginally. Panel members commented that economic conditions in India were fragile, resulting in lower demand.

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