Notes Ban Hits Manufacturing, Factory Activity Slows Amid Cash Crunch

India's factory activity decelerated sharply last month after Prime Minister Narendra Modi's currency crackdown led to a rationing of cash and cooled domestic consumption, new orders and production. The Nikkei/Markit Manufacturing Purchasing Managers' Index fell to 52.3 in November from October's 54.4, its biggest month-on-month decline since March 2013. However, it held above the 50 mark that denotes growth for the eleventh straig...