New Delhi, March 3 -- India's manufacturing activity eased to a 14-month low of 56.3 in February from 57.7 in the previous month, data released by S&P Global on Monday showed.

The drop was attributed to mild loss of momentum in new orders and production. The manufacturing PMI is still indicative of a further robust improvement in the health of the sector.

Pranjul Bhandari, Chief India Economist, HSBC, said, "India recorded a 56.3 manufacturing PMI in February, down slightly from 57.7 during the prior month, but still firmly within expansionary territory."

Per the survey, despite slowing to the weakest since December 2023, rates of expansion in output and sales remained elevated in the context of the survey's 20-year history.

While dom...