PMI: India's services sector growth hits 7-year high of 57.5 in February

Exports zoom but job growth at 3-month low

The services sector continued to ring in the good times in February as an uptick in exports and rising new orders resulted in growth touching a seven-year high, according to a monthly survey released on Wednesday.

The widely tracked Nikkei India Services Purchasing Managers Index (PMI) stood at 57.5 in February, up from 55.5 in January. In PMI parlance, the 50-mark threshold separates expansion from contraction.

But despite growth in every indicator, the sector saw the number of jobs created fall to a three-month low.

Services growth has continued to strengthen since November when it came out of a two-month