India's manufacturing sector expansion slowed in May, hitting a three-month low amid rising inflation, subdued demand, and global geopolitical uncertainties, according to a monthly survey released on Monday.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) dropped to 57.6 in May from 58.2 in April, indicating the slowest improvement in operating conditions since February.
In PMI terms, a reading above 50 signals growth, while a score below 50 indicates contraction.