New Delhi, Aug. 21 -- India's private sector activity expanded at a slightly faster pace in August, supported by an improvement in services activity, even as manufacturing growth slowed to its weakest level in five years, according to the HSBC Flash India PMI.

The HSBC Flash India PMI Composite Output Index rose to 54.6 in August from 54.3 in July, which was a 52-month low. However, the latest reading remained the second-weakest since March 2022, indicating subdued overall growth.

Services Growth Recovers, Manufacturing Slows

The improvement was led by services, which saw a modest recovery in business activity and new orders after hitting 53-month lows in July.

Manufacturing weakened further, with production and new orders growing at ...