Mumbai, Jan. 3 -- India's manufacturing activity slowed to its weakest level in two years in December, though it remained firmly in expansionary territory, according to the latest HSBC India Manufacturing Purchasing Managers' Index (PMI) released by S&P Global on Friday. The seasonally adjusted PMI fell to 55.0 in December, from 56.6 in November, signalling the weakest improvement in sector health in two years. Even so, the reading stayed above both the 50-mark, which separates expansion from contraction, and the long-run average, indicating continued growth in manufacturing activity. The easing in momentum reflected slower growth in both output and new business orders amid competitive pressures and softer demand for select items. Intake of...