New Delhi, Sept. 2 -- India's manufacturing sector continued to expand in August, but growth slowed sharply as output and new orders increased at their weakest pace in five years, according to the HSBC India Manufacturing PMI.

The seasonally adjusted PMI fell to 52.8 in August from 53.5 in July, marking the weakest improvement in manufacturing sector conditions in five years and remaining below the long-term average of 54.2.

Demand, Output Growth Lose Momentum

Pranjul Bhandari, Chief India Economist, HSBC, said, "India's final manufacturing PMI slipped to 52.8 in August, extending its decline for a third consecutive month. The output index fell to its lowest level since August 2021, signalling that production is still expanding but at ...