India, Sept. 1 -- India's manufacturing activity expanded at the slowest pace in five years as output and new orders rose at weaker rates, final survey data from S&P Global showed on Tuesday.
The HSBC manufacturing purchasing managers' index dropped to 52.8 in August from 53.5 in July. The flash score was 52.9. Nonetheless, a reading above 50 indicates expansion in the sector.
Both output and new orders grew at the weakest rate in five years amid challenging market conditions and softer demand conditions. The growth in export orders also eased, while the overall upturn was driven by gains from markets including Australia, Germany, mainland China, Spain, Thailand, and the US.
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