India’s services sector growth hits 7-year high in February

Purchasing Managers’ Index (PMI) is released by the data analytics firm IHS Markit. As per the survey, services sector of the country rose for the fifth consecutive month to 57.5 in February after 55.5 in January.

A figure more than 50 signifies expansion, while below-50 figure identifies contraction. The service sector dipped to a 19-month low in September 2019.