The IHS Markit India Services PMI jumped to 55.5 in January 2020 from 53.3 in the previous month, easily beating market expectations of 52.4. The latest reading pointed to the strongest pace of expansion since January 2013, as new orders rose the most in seven years despite a decline in exports, due to a positive outcome from marketing efforts, while the rate of job creation was little-changed from December. On the price front, input cost inflation was the fastest in close to seven years amid reports of higher prices for beauty products, food, freight, fuel and maintenance; and selling prices rose the most since February 2018. Looking ahead, sentiment was similar to December's four-month high, remaining below its long-run average.

Services PMI in India averaged 51.38 points from 2012 until 2020, reaching an all time high of 57.50 points in January of 2013 and a record low of 44.60 points in September of 2013. 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. source: Markit Economics

Services PMI in India is expected to be 51.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in India to stand at 51.90 in 12 months time. In the long-term, the India Services PMI is projected to trend around 52.60 points in 2021 and 50.80 points in 2022, according to our econometric models.


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India Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
55.50 53.30 57.50 44.60 2012 - 2020 points Monthly


News Stream
India Services Growth Accelerates to 7-Year High
The IHS Markit India Services PMI jumped to 55.5 in January 2020 from 53.3 in the previous month, easily beating market expectations of 52.4. The latest reading pointed to the strongest pace of expansion since January 2013, as new orders rose the most in seven years despite a decline in exports, due to a positive outcome from marketing efforts, while the rate of job creation was little-changed from December. On the price front, input cost inflation was the fastest in close to seven years amid reports of higher prices for beauty products, food, freight, fuel and maintenance; and selling prices rose the most since February 2018. Looking ahead, sentiment was similar to December's four-month high, remaining below its long-run average.
2020-02-05
India Services Growth Accelerates to 5-Month High
The IHS Markit India Services PMI rose to a five-month high of 53.3 in December 2019 from 52.7 a month earlier, easily beating market expectations of 51.4. Output growth accelerated to the second-strongest rate in over a year and new business rose the most since October 2016, while employment increased for the 28th month in a row and at a rate that, although modest, was the fastest since August. On the price front, input cost inflation was the highest in almost seven years, amid reports of higher charges for food, fuel, medical products and transport. As a result, output charge inflation hit a 22-month high. Lastly, business confidence strengthened, supported by marketing initiatives and favorable economic conditions.
2020-01-06
Indian Service Sector Returns to Growth
The IHS Markit India Services PMI rose to 52.7 in November 2019 from 49.2 a month earlier, easily beating market expectations of 49.8. New business growth picked up to a four-month high, with export sales advancing for the ninth month in a row, and employment rose the most in three months. On the price front, input cost inflation accelerated to a 13-month high, amid reports of higher food, fuel, and medicine cost. Meanwhile, average prices charged increased the least since July. Lastly, confidence weakened to its highest in three months, supported by marketing initiatives, lower lending rates and favorable state policies.
2019-12-04
India Services Contracts at Softer Pace
The IHS Markit India Services PMI rose to 49.2 in October 2019 from 48.7 in a month earlier and compared to market expectations of 49.1. New business stabilised following contraction in September, with export sales rising the least in four months and job creation moderating. Meanwhile, pending client payments caused a renewed increase in outstanding business. The rise in backlogs was marginal, but contrasted with depletion in September. On the price front, input price inflation accelerated to a year high, amid reports of higher freight, fuel, material, vegetable and staff cost. As a result, average prices charged increased modestly. Lastly, confidence weakened to its lowest in near three years, due to concerns over challenging economic conditions.
2019-11-05

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.