New Delhi, Aug. 3 -- India's manufacturing sector continued to expand in July, supported by resilient demand and rising new orders, although the pace of growth moderated across several key indicators, according to the HSBC India Manufacturing Purchasing Managers' Index (PMI).

The seasonally adjusted HSBC India Manufacturing PMI fell to 53.5 in July from 54.2 in June, marking the lowest reading since August 2021 and falling below the long-run series average of 54.2.

New Orders Rise Despite Moderating Growth

New orders continued to rise, although the rate of expansion was the second-weakest in more than four years. Manufacturers attributed demand resilience to advertising activity and customer demand, while increasingly challenging marke...