Sri Lanka Services PMI Rises in March

2026-04-17 02:43 By Jereli Escobar 1 min. read

Sri Lanka’s Services PMI rose to 59.4 in March 2026 from 54.4 in February, signaling continued expansion in activity.

Growth was broad-based, led by financial services amid increased lending, while wholesale and retail trade benefited from festive demand.

Professional and other personal services also posted notable gains.

New business expanded further (57.6 vs 53.8 in February), driven mainly by financial services, alongside strong growth in insurance and pension funding.

Employment edged lower (54.2 vs 55.1), although firms increased hiring to accommodate stronger consumer demand ahead of the festive season, while the pace of decline in backlogs of work moderated (48.1 vs 47.6).

Looking ahead, expectations for business activity over the next quarter continued to rise, albeit at a softer pace (57.1 vs 65.9), supported by seasonal demand and potential new opportunities, although some firms flagged downside risks from the Middle East conflict and broader global economic uncertainty.



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Sri Lanka Services PMI Rises in March
Sri Lanka’s Services PMI rose to 59.4 in March 2026 from 54.4 in February, signaling continued expansion in activity. Growth was broad-based, led by financial services amid increased lending, while wholesale and retail trade benefited from festive demand. Professional and other personal services also posted notable gains. New business expanded further (57.6 vs 53.8 in February), driven mainly by financial services, alongside strong growth in insurance and pension funding. Employment edged lower (54.2 vs 55.1), although firms increased hiring to accommodate stronger consumer demand ahead of the festive season, while the pace of decline in backlogs of work moderated (48.1 vs 47.6). Looking ahead, expectations for business activity over the next quarter continued to rise, albeit at a softer pace (57.1 vs 65.9), supported by seasonal demand and potential new opportunities, although some firms flagged downside risks from the Middle East conflict and broader global economic uncertainty.
2026-04-17
Sri Lanka Services PMI Slows in February
Sri Lanka’s Services PMI eased to 54.4 in February 2026 from 64.5 in January, signaling slower expansion. All sub-indexes rose at a slower pace except Backlogs of Work, which contracted. Growth was broad based, led by professional and personal services, with accommodation, food, and education sectors maintaining momentum. New Business (53.8 vs 60.8) expanded on rising demand for hospitality and personal services. Employment (55.1 vs 59.2) rose as firms hired to meet consumer demand. Backlogs of Work (47.6 vs 48.9) declined faster. Business Activity expectations (65.9 vs 76.9) remained strong, supported by seasonal demand and planned expansions. Still, some firms warned of risks from Middle East conflict and global uncertainty.
2026-03-16
Sri Lanka Services Growth Cools in January
Sri Lanka’s Services PMI eased to 64.5 in January 2026 from 67.9 in December, indicating a softer expansion in the services sector. The moderation reflected a slight easing of demand after the post-holiday peak. Still, strength remained in wholesale and retail trade, accommodation, food and beverage services, and financial services, supported by increased lending activity. New businesses fell to 60.8 from 64.6, led by financial services, education, and transportation, though growth was more cautious than in December. Meanwhile, employment rose to 59.2 from 52.6, as firms maintained workforce expansion to meet demand. Backlogs of work declined to 48.9 from 53.8, reflecting improved efficiency and a temporary easing of pressures. Expectations for activity over the next quarter stayed positive, supported by favorable macroeconomic conditions, seasonal demand, and continued normalization after weather-related disruptions.
2026-02-16