India's Manufacturing Activity Contracted for the Fourth Straight Month in July

India's manufacturing slump intensified in July as new blockades curbed demand and output and increased the chances of a sharp contraction this year, a business survey showed on Monday. The Nikkei/Markit India Manufacturing Purchasing Managers' Index (PMI) fell to 46.0 in July from 47.2 in June, the fourth straight month below the 50-year mark and the longest contraction since March 2009. India's economy is expected to contract for the full year at its fastest pace since 1979, according to a Reuters survey last week.