The Services PMI in Sri Lanka rose to 56 in August of 2020 from 51.4 in July, pointing to the strongest expansion in the sector since January indicating the gradual recovery to the pre-pandemic levels. Business activity grew sharply (66.7 vs 61 in July) and new business continued to improve (58.3 vs 53.5), particularly boosted by financial services, insurance and transportation sub-sectors. Employment declined for a seventh consecutive month owing to halt in new recruitment and backlogs of work also decreased. Looking ahead, the gauge for Expectations for Activity improved with the positive sentiment being linked to a revival of economic activities in the forthcoming period
Services Pmi in Sri Lanka averaged 55.91 points from 2015 until 2020, 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 September of 2020. source: Central Bank of Sri Lanka
Services Pmi in Sri Lanka is expected to be 50.00 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 53.00 in 12 months time. In the long-term, the Sri Lanka Services PMI is projected to trend around 57.00 points in 2021, according to our econometric models.