The IHS Markit India Services PMI inched down to 58.1 in November of 2021 from 58.4 in October and compared with market expectations of 57.8. This marked the fourth straight month of expansion in the sector, and the second-fastest rise since July 2011. Both output and new orders continued to expand, while employment levels were little-changed. Meanwhile, international sales declined, due to travel restrictions. On the price front, input price inflation accelerated to the second-strongest in almost a decade, due to higher fuel, labour, raw materials, retail, and transportations costs, while output charges rose modestly. Looking ahead, although business sentiment improved to a three-month high, the overall level of positive sentiment was well below its long-run average, amid worries impact of inflationary pressures on the recovery. source: Markit Economics

Services PMI in India averaged 50.46 points from 2012 until 2021, reaching an all time high of 58.40 points in October of 2021 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 December of 2021.

Services PMI in India is expected to be 56.60 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 50.80 points in 2022 and 51.20 points in 2023, according to our econometric models.

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India Services PMI


Related Last Previous Unit Reference
Services PMI 58.10 58.40 points Nov/21
Manufacturing PMI 57.60 55.90 points Nov/21
Composite PMI 59.20 58.70 points Nov/21

News Stream
India Services Sector Growth Remains Solid
The IHS Markit India Services PMI inched down to 58.1 in November of 2021 from 58.4 in October and compared with market expectations of 57.8. This marked the fourth straight month of expansion in the sector, and the second-fastest rise since July 2011. Both output and new orders continued to expand, while employment levels were little-changed. Meanwhile, international sales declined, due to travel restrictions. On the price front, input price inflation accelerated to the second-strongest in almost a decade, due to higher fuel, labour, raw materials, retail, and transportations costs, while output charges rose modestly. Looking ahead, although business sentiment improved to a three-month high, the overall level of positive sentiment was well below its long-run average, amid worries impact of inflationary pressures on the recovery.
2021-12-03
India Services PMI Highest in Over a Decade
The IHS Markit India Services PMI jumped to 58.4 in October of 2021 from 55.2 in September and above market expectations of 55.7. The reading pointed to the third straight month of expansion in the sector, and the highest reading in ten-and-a-half years, amid further easing COVID-19 restrictions. Output grew at the fastest rate in over a decade, while new orders rose at the steepest pace since July 2011, while employment increased to the strongest since February 2020, and the pace of backlog depletion eased and was only slight. At the same time, new export orders declined at the weakest pace since March. On the price front, input price inflation accelerated to a six-month high, due to higher fuel, material, retail, staff and transports costs, while output price inflation rose to the strongest since July 2017. Looking ahead, business sentiment was little-changed, amid worries impact of inflationary pressures on the recovery.
2021-11-03
India Services Growth Slows in September
The IHS Markit India Services PMI declined to 55.2 in September of 2021 from August's 18-month high of 56.7, and below market expectations of 57. The reading pointed to the second straight of expansion in the sector, amid the easing of COVID-19 restrictions. Output continued to grow, while new orders expanded, with the rate of expansion was marked and the second-fastest since February 2020. Meanwhile, employment increased for the first time in 10 months, but was marginal overall, with the pace of backlog depletion eased and was only slight. On the price front, input price inflation eased to an eight-month low. As a result, output price inflation slowed and was negligible by historical standards. Looking ahead, business sentiment weakened amid worries inflationary pressures.
2021-10-05

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.