Growth in India's manufacturing activity, as tracked by the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI), moderated slightly to 57.5 in February from 57.7 in January 2021. However, this was up than the long-run average of 53.6 and indicated some levelling off the around eight-year high mark in January. A PMI reading above 50 denotes an expansion in manufacturing activity and below that level reflects contraction.
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