India's Manufacturing Sector Growth Moderates Slightly

India's manufacturing activity growth moderated in July for a second month, a private business survey showed on Tuesday. The Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, slipped to 57.7 last month from 57.8 in June though it remains well in expansion territory. The Indian manufacturing sector showed little sign of losing growth momentum in July as production lines continued to motor on the back of strong new order growth. New orders remained robust in July, and while output growth moderated to a three-month low it remained strong. With input prices rising at the quickest pace since October, output prices also rose, but at a slower pace compared with the previous month.

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