The IHS Markit India Services PMI jumped to 56.7 in August of 2021 from 45.4 in the previous month, and far above market expectations of 48.5. The reading pointed to the first expansion in the sector since April, and the strongest growth since February 2020, due to the pandemic continued to recede and vaccine access improved. New orders expanded at the fastest pace since January 2013, while output grew for first time in four months. Meanwhile, the rate of job shedding was marginal and the weakest since January. On the price front, input prices increased at the highest rate in four months, due to a faster rise in prices of fuel, retail and transport. As a result, output prices rose, despite the rate of inflation softened to the weakest since March and was only marginal. Looking ahead, business sentiment strengthened to a five-month high. source: Markit Economics

Services PMI in India averaged 50.28 points from 2012 until 2021, reaching an all time high of 57.50 points in January of 2013 and a record low of 5.40 points in April of 2020. This page provides the latest reported value for - India Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. India Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.

Services PMI in India is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Services PMI is projected to trend around 50.80 points in 2022 and 51.20 points in 2023, according to our econometric models.

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India Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
56.70 45.40 57.50 5.40 2012 - 2021 points Monthly


News Stream
India Services Sector Returns to Growth
The IHS Markit India Services PMI jumped to 56.7 in August of 2021 from 45.4 in the previous month, and far above market expectations of 48.5. The reading pointed to the first expansion in the sector since April, and the strongest growth since February 2020, as the pandemic continued to recede and vaccine access improved. New orders expanded at the fastest pace since January 2013, while output grew for first time in four months. Meanwhile, the rate of job shedding was marginal and the weakest since January. On the price front, input prices increased at the highest rate in four months, due to a faster rise in prices of fuel, retail and transport. As a result, output prices rose, despite the rate of inflation softened to the weakest since March and was only marginal. Looking ahead, business sentiment strengthened to a five-month high.
2021-09-03
India Services PMI Below Forecasts
The IHS Markit India Services PMI increased to 45.4 in July of 2021 from 41.2 in the previous month, but far below market expectations of 49. The reading pointed to the third straight month of contraction in the sector, due to the COVID-19 pandemic and local restrictions. Both output and new orders shrank at a softer rate, while employment contracted for the eighth consecutive month, albeit at a moderate pace that was slower than that seen in June. On the price front, input cost inflation accelerated, due to a faster rise in prices of fuel, medical equipment and raw material. As a result, selling prices inflation accelerated to the fastest in the current five-month sequence of increase. Looking ahead, business sentiment were pessimistic for the first time in a year, due to concerns over the pandemic, margins and inflation.
2021-08-04
India Services Sector Shrinks the Most in 11 Months
The IHS Markit India Services PMI declined to 41.2 in June of 2021 from 46.4 in the previous month, and far below market expectations of 48. The reading pointed to the second straight month of contraction in the sector and the fastest pace of contraction since July 2020, amid a resurgence of COVID-19 cases. Both output and new orders fell at the fastest pace since July 2020, due to the reintroduction of restrictions to contain the spread of the coronavirus. External demand continued to worsen, with the new exports orders falling for the sixteenth consecutive month, with the pace of contraction remained sharp, despite easing from May. At the same time, employment declined for the seventh straight month and the fastest over this period. On the price front, input cost inflation eased to five-month low. As a result, selling prices continued to rise. Looking ahead, business sentiment weakened to the lowest since last August, due to the escalation of the pandemic.
2021-07-05
India Services Activity Shrinks for 1st Time in 8 Months
The IHS Markit India Services PMI declined to 46.4 in May of 2021 from 54.0 in the previous month, and below market expectations of 49. The reading pointed to the first time contraction in the sector since last September, amid a resurgence of COVID-19 cases. Both output and new orders declined due to the reintroduction of restrictions to contain the spread of the coronavirus. External demand continued to worsen, with the new exports orders falling at the fastest pace in six months, due to the international restrictions and business closures. Meanwhile, the pace of job shedding accelerated to the fastest in the current six-month sequence. On the price front, input cost inflation eased to four-month low. As a result, selling prices rose modestly. Looking ahead, business sentiment weakened to the lowest since last August, due to the escalation of the pandemic.
2021-06-03

India Services PMI
The IHS Markit India Services PMI (Purchasing Managers' Index) is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 350 private service sector companies. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.