The Services PMI in Sri Lanka increased to 57.9 in October of 2021, the highest since March 2021 from 52.2 in the previous month. Business activities rose at a faster pace(58.3 vs 54) particularly in financial services,transportation,education,wholesale and retail trade. Also, new business growth advanced further(58.3 vs 54) due to improvements in financial services, transportation, education, insurance, professional services, real estate and telecommunication sectors. Meantime, employment remained in the negative territory (45 vs 40.3) as the number of retirements and voluntary resignations exceeded the number of new recruitments and backlogs of work decreased (49.5 vs 54.8) for the first time in 7 months as most staff reported to work after the relaxation of travel restrictions. Finally, expectations on future business activity advanced further (70.3 vs 65.6) following relaxation of pandemic-induced restrictions and increased optimism on demand side in the upcoming festive season. source: Central Bank of Sri Lanka

Services PMI in Sri Lanka averaged 55.20 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 November of 2021.

Services PMI in Sri Lanka is expected to be 57.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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


Related Last Previous Unit Reference
Industrial Production -8.23 2.90 percent Sep/21
Capacity Utilization 67.00 81.00 percent Dec/20
Changes in Inventories -64200.50 -7711.60 LKR Million Dec/20
Car Registrations 359.00 191.00 Jul/21
Services PMI 57.90 52.20 points Oct/21
Manufacturing PMI 60.40 54.30 points Oct/21
Business Confidence 68.00 88.00 points Jun/21

News Stream
Sri Lanka Services PMI at 7-Month High
The Services PMI in Sri Lanka increased to 57.9 in October of 2021, the highest since March 2021 from 52.2 in the previous month. Business activities rose at a faster pace(58.3 vs 54) particularly in financial services,transportation,education,wholesale and retail trade. Also, new business growth advanced further(58.3 vs 54) due to improvements in financial services, transportation, education, insurance, professional services, real estate and telecommunication sectors. Meantime, employment remained in the negative territory (45 vs 40.3) as the number of retirements and voluntary resignations exceeded the number of new recruitments and backlogs of work decreased (49.5 vs 54.8) for the first time in 7 months as most staff reported to work after the relaxation of travel restrictions. Finally, expectations on future business activity advanced further (70.3 vs 65.6) following relaxation of pandemic-induced restrictions and increased optimism on demand side in the upcoming festive season.
2021-11-16
Sri Lanka Service Sector Rebounds in September
The Services PMI in Sri Lanka rebounded to 52.2 in September of 2021 from 46.2 in the previous month. New businesses increased to 54 from 40.2 in August, particularly due to improvements in transportation, solely related to freight forwarding, financial services, education and telecommunication subsectors. At the same time, backlogs of work eased but remained in the expansionary territory (54.8 vs 60.8) as a limited staff reported to work amid prolonged travel restrictions and infections among staff members. On the other hand, business activity remained in the negative territory (46.5 vs 35.3) and employment declined at a faster rate (40.3 vs 47.5) due to high retirements and resignations amid comparatively low level of new recruitments. Looking ahead, expectations for business activities for the next three months improved (65.6 vs 47.1) following the lift in travel restrictions and fall in domestic COVID-19 cases.
2021-10-15
Sri Lanka Services Sector Contracts for 1st Time in 3 Months
The Services PMI in Sri Lanka slumped to 46.2 in August of 2021 from 55.7 in the prior month. This marked the first contraction in activity since May, due to imposing the restriction to contain the spread of the coronavirus. Business activities reported considerable declines (35.2 from 63.5 in July), due to the impact of travel restrictions. At the same time new business contracted (40.2 form 58.6), with declines observed in wholesale and retail trade, insurance, real estate, and education sub-sectors, while employment declined at a faster pace (47.5 from 49.0), as retirements and resignations exceeded the number of recruitments carried out during the month. Meantime, backlogs of work expanded at a faster rate (60.8 vs 53.2). Lastly, business sentiment weakened to the negative territory, amid extended travel restrictions and growing concerns with regard to import restrictions and its related adverse effects on business operations.
2021-09-16

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.