Manufacturing activity in India slowed slightly in June 2009 but still expanded for a third straight month. The Markit Purchasing Managers' Index (PMI) based on a survey of 500 companies, fell slightly to 55.34 in June 2009 from May's 55.7, which was the highest in eight months. It hit a trough of 44.4 in December 2009.
PMI figure above 50 indicates expansion in manufacturing activity and below 50 indicates contraction in manufacturing activity.
Manufacturing makes up about 15% of India's gross domestic product.
Meanwhile, the index of industrial production (IIP) rose 1.4% in April 2009 from a revised 0.75% decline in March 2009. Industrial output data for the month of May 2009 is due this month.
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