Manufacturing PMI falls to 53.5 in July, lowest in nearly 5 years

•The HSBC India Manufacturing PMI fell to 53.5 in July, its slowest pace in nearly 5 years, from 54.2 in June.

•New orders continued to rise but at a slower pace, supported by advertising and resilient demand, mainly from overseas markets.

•Manufacturers increased production and purchasing volumes, rebuilding buffers and securing supply, but employment growth weakened for a third straight month.

•Input-cost inflation eased to a five-month low, while output charge inflation accelerated, indicating firms passing on price increases to protect margins.