Feb PMI eases to 57.5 from 57.7 in Jan, but remains at elevated level

Although growth more or less remained at an elevated level, employment declined further amid Covid-19 restrictions

Growth in manufacturing activities eased a bit in February compared to the previous month, but remained at an elevated level, showed a widely-tracked survey on IHS Purchasing Managers' Index (PMI).

PMI inched down to 57.5 in February from 57.7 in January. In the PMI lexicon, a reading above 50 is growth and the one below it is contraction.

Although easing from January, the pace of growth remained sharp in the context of historical data, said a commentary associated with release of data. The headline figure in February remained above its long-run average of 53.6.

Although growth more or less remained