India’s manufacturing activity rose at the slowest pace in five months in September but it remained solid, with strong demand driving business confidence to its highest level this year, despite increased inflationary pressures, according to the S&P Global Purchasing Managers’ Index (PMI). The Manufacturing Purchasing Managers’ Index (PMI) by S&P Global came in at 57.5 in September as against 58.6 in August, missing Reuters estimates for 58.1. This marked the 27th straight month of the index being above the 50-mark separating expansion from contraction.