New Delhi, June 2 -- India's manufacturing activity slowed slightly in May, with the HSBC India Manufacturing Purchasing Managers' Index (PMI) falling to 57.6 from 58.2 in April, according to the HSBC PMI data released by S&P Global on Monday.

This marked the weakest improvement in operating conditions since February. However, the headline figure remained well above the neutral 50.0 mark, which separates expansion from contraction, and higher than the long-term average of 54.1.

The data showed that while there was still a strong improvement in business conditions, the pace of growth in new orders and output slowed to a three-month low.

HSBC report said "Rates of increase in new orders and output retreated to three-month lows, they rema...