India's Manufacturing Activity Slows in August, HSBC-S&P Survey Shows
MT Newswires Live
7 hours ago
Manufacturing activity in India expanded in August, with the HSBC India Manufacturing Purchasing Managers' Index (PMI) falling to 52.8 from 53.5 in the previous month, according to data compiled by S&P Global and released on Tuesday.
The reading missed the consensus forecast of 52.9 tracked by Investing.com. A reading above 50 indicates expansion in the sector, while a figure below signals a contraction.
The lower reading came as demand softened in two of three industrial groups tracked by the survey, as well as challenging market conditions and tamed appetite for products, S&P said.
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