India's manufacturing activity continued to expand strongly in February, though at the weakest pace in more than a year, data compiled by S&P Global showed on Monday.
The HSBC final manufacturing Purchasing Managers' Index dropped to 56.3 in February from 57.7 in January. The flash reading was 57.1. However, a score above 50.0 indicates expansion.
Both output and new business grew at the weakest pace since December 2023. The overall growth in output was driven by sustained improvements in demand, tech investment, and the commissioning of new projects. The rise in new orders was backed by strong client demand and efforts to price better than their competitors.
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