The Services PMI in Sri Lanka jumped to 62.1 in March of 2021, from 56.5 in the prior month, pointing to the steepest expansion in the services sector since June of 2015, underpinned by improvements across all sub-indexes. Business activity (73.3 from 62.8 in February) and new business growth (64.7 from 54.1) rose at a faster pace, as retail and wholesale trade increased ahead of the Sinhalese New Year festival, along with a better performance in the financial sector. Improvements were also seen in employment (52.2 from 49.5) and backlogs of work remained in negative territory (49.4 from 46.8). Finally, expectations on future business activity advanced further (70.7 from 69.6) on growth prospects amid the festive season. source: Central Bank of Sri Lanka

Services PMI in Sri Lanka averaged 55.69 points from 2015 until 2021, reaching an all time high of 66.80 points in May of 2015 and a record low of 29.80 points in April of 2020. This page provides - Sri Lanka Services Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Sri Lanka Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.

Services PMI in Sri Lanka is expected to be 60.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Sri Lanka to stand at 57.00 in 12 months time. In the long-term, the Sri Lanka Services PMI is projected to trend around 57.00 points in 2022, according to our econometric models.

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Sri Lanka Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
62.10 56.50 66.80 29.80 2015 - 2021 points Monthly


News Stream
Sri Lanka Services PMI at Over 5-Year High
The Services PMI in Sri Lanka jumped to 62.1 in March of 2021, from 56.5 in the prior month, pointing to the steepest expansion in the services sector since June of 2015, underpinned by improvements across all sub-indexes. Business activity (73.3 from 62.8 in February) and new business growth (64.7 from 54.1) rose at a faster pace, as retail and wholesale trade increased ahead of the Sinhalese New Year festival, along with a better performance in the financial sector. Improvements were also seen in employment (52.2 from 49.5) and backlogs of work remained in negative territory (49.4 from 46.8). Finally, expectations on future business activity advanced further (70.7 from 69.6) on growth prospects amid the festive season.
2021-04-15
Sri Lanka Services Sector Growth Quickens to 13-Month High
The Services PMI in Sri Lanka rose to 56.5 in February 2021, from 56.2 in the prior month, pointing to the steepest month of expansion in the services sector since January last year. Business activity rose at a faster pace (62.8 from 60.9 in January) amid the normalization of economic activities, in particular, the education sector benefited from new intakes of students to higher education institutes, while new business growth slowed (54.1 from 55.2). Employment was nearly stable (49.5 from 43.8) and backlogs of work fell in negative territory (46.8 from 55.3), as business processes returned to normality after the disruptions caused by the pandemic. Finally, expectations on future business activity advanced further (69.6 from 67.7) due to increased optimism over a vaccine-led economic recovery.
2021-03-15
Sri Lanka Services PMI Reaches 1-Year High in January
The Services PMI in Sri Lanka rose to 56.2 in January 2021, from 55.6 in November, pointing to the steepest month of expansion in the services sector since January last year. New business growth picked up (55.2 from 55 in December), amid improvements in financial services, transportation, wholesale and retail trade sub-sectors. Additionally, expectations on future business activity increased further (67.7 from 62.5) due to increased optimism over an economic recovery. Meanwhile, business activity rose at a slower rate (60.9 from 64.5), amid concerns over restrictions on non-essential imports. In contrast, employment fell at a faster rate (43.8 from 44.4), while backlogs of work kept rising (53.3 from 51.6), which reflects further disruptions to business activities.
2021-02-15
Services PMI in Sri Lanka at 4-Month High
Services PMI in Sri Lanka rebounded to 55.6 in December 2020, a level not seen since August, from 48.8 in November. Business activity surged to 64.5 from 43, with major improvements across all sectors due to growth in domestic tourism during the holiday season and the easing of some restrictions. Optimism for the year of 2021 fueled a hike in expectations for activity, which rose to 62.5 from 53. New businesses accelerated to 55 from 50.5, mainly due to improvements seen in the financial services and insurance sector, while employment decelerated to 51.6, from 58.5. Backlogs of work improved from 39 to 44.4, reflecting fewer disruptions to business activities.
2021-01-18

Sri Lanka Services PMI
The Services Sri Lanka PMI (Purchasing Managers' Index) is based on data collected from a representative panel of 140 companies based in the Sri Lanka's service sector. 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.