BENGALURU: India's manufacturing sector expanded at its slowest pace in nearly five years in July as overall demand remained soft while a third consecutive month of slowing job creation also signalled a loss of momentum, a survey showed.
The S&P Global HSBC India Manufacturing Purchasing Managers' Index (PMI) fell to 53.5 in July from 54.2 in June, its lowest reading since August 2021, and slightly below a preliminary estimate of 53.9.
A PMI reading above 50.0 indicates growth in activity.