New Delhi, Aug. 3 -- India's manufacturing sector lost momentum in July, with factory activity expanding at its slowest pace in almost five years as softer domestic demand weighed on new orders, purchasing activity and hiring, according to the latest HSBC India Manufacturing Purchasing Managers' Index (PMI) released on Monday.
The seasonally adjusted HSBC India Manufacturing PMI eased to 53.5 in July from 54.2 in June, marking its weakest reading since August 2021. While the index remained above the crucial 50-point threshold that separates expansion from contraction, it also slipped below the survey's long-term average of 54.2, indicating a moderation in growth.
The survey showed that manufacturers continued to receive new business durin...