The S&P Global India Services PMI decreased to 55.5 in July 2022 from 59.2 in June, and below market consensus of 58.5, pointing to the weakest expansion in the sector since March, as weaker sales growth and inflationary pressures restricted the latest upturn in business activity. New business inflows rose at the slowest pace in four months, with the new international business declining, but the weakest in six months. Meanwhile, employment increased fractionally and broadly similar to June. On the price front, input price inflation eased to the slowest pace in five months. Meanwhile, output cost inflation slowed from June's near five-year peak, the latest rise was solid and the seventeenth in successive months. Looking ahead, sentiment was subdued, amid majority of firms predict no change in business activity from present levels. source: Markit Economics
Services PMI in India averaged 50.78 points from 2012 until 2022, reaching an all time high of 59.20 points in June of 2022 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 August of 2022.
Services PMI in India is expected to be 54.00 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 51.20 points in 2023, according to our econometric models.