Mumbai, June 2 -- Falling from 58.2 in April to 57.6 in May, the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) highlighted the weakest improvement in operating conditions since February.

The headline figure was nevertheless well above both the neutral mark of 50.0 and its long-run average of 54.1.

May data indicated another robust improvement in business conditions across India's manufacturing industry. Although rates of increase in new orders and output retreated to three-month lows, they remained well above their respective long-run averages.

Panellists suggested that demand strength continued to support sales and production, though competition, inflation and the India-Pakistan conflict had reportedly ...