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India's Manufacturing Activity Slows in August, HSBC-S&P Survey Shows

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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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