New Delhi, Sept. 1 -- India's manufacturing activity expanded at its fastest pace in nearly five years in August, driven by stronger alignment between supply and demand, a private survey showed on Monday.

The HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by financial intelligence solutions provider S&P Global, climbed to 59.3 in August from 59.1 in July. The index recorded a reading of 58.4 in June, 57.6 in May, and 58.2 in April.

"Up from 59.1 in July to 59.3 in August, the seasonally adjusted HSBC India Manufacturing PMI-a single-figure indicator of sector performance-indicated the fastest improvement in operating conditions for 17-and-a-half years," the survey said.

"The upward movement in the headline figure l...