(RTTNews) - India's manufacturing sector grew at a subdued pace in August compared to the previous month, the latest survey results from Markit Economics showed Friday.
The Markit/HSBC purchasing managers' index, a measures of the manufacturing activity, fell to 52.6 in August from 53.6 in July. A PMI reading above 50 indicates expansion of the sector.
But, the rate of expansion was modest and the weakest in the current 29-month sequence of growth. New export business received by manufacturers in India decreased markedly during August, reflecting softening global economic conditions.
Input prices faced by manufacturers continued to rise substantially, with the rate of cost inflation the fastest in four months.
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