Factory Activity Revving Up In India

Factory activity in India galvanized into action in August for the first time in five months after the easing of the lockdown restrictions, causing a rebound in domestic demand, according to a private business survey cited by a Reuters report. However, the bounce is unlikely to signal a quick turnaround in the Indian economy, which contracted at its steepest pace on record of 23.9 percent annually last quarter. It was expected to remain in recession this year, as per a recent Reuters poll.

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