The IHS Markit India Services PMI increased to 52.8 in January of 2021 from 52.3 in the previous month, but below market expectations of 53. The reading pointed to the fourth straight month of expansion in the services sector, as both output and new orders continued to grow. Output expanded due to marketing efforts, the reopening of some establishments and strengthening demand all supported the increase in sales. At the same time, the growth of total new orders was helped by ongoing price discounting strategies. At the same time, employment declined further, while exports contracted sharply. On the price front, input cost rose for the seventh straight month, due to higher prices of both fuel and materials. Meanwhile, selling prices continued to decline. Looking ahead, business sentiment improved to an 11-month high, supported by the launch of the COVID-19 vaccine program. source: Markit Economics

Services PMI in India averaged 50.27 points from 2012 until 2021, reaching an all time high of 57.50 points in January of 2013 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 February of 2021.

Services PMI in India is expected to be 53.20 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in India to stand at 52.60 in 12 months time. 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

Actual Previous Highest Lowest Dates Unit Frequency
52.80 52.30 57.50 5.40 2012 - 2021 points Monthly


News Stream
India Services Sector Growth Accelerates
The IHS Markit India Services PMI increased to 52.8 in January of 2021 from 52.3 in the previous month, but below market expectations of 53. The reading pointed to the fourth straight month of expansion in the services sector, as both output and new orders continued to grow. Output expanded due to marketing efforts, the reopening of some establishments and strengthening demand all supported the increase in sales. At the same time, the growth of total new orders was helped by ongoing price discounting strategies. At the same time, employment declined further, while exports contracted sharply. On the price front, input cost rose for the seventh straight month, due to higher prices of both fuel and materials. Meanwhile, selling prices continued to decline. Looking ahead, business sentiment improved to an 11-month high, supported by the launch of the COVID-19 vaccine program.
2021-02-03
India Services PMI Falls to 3-Month Low
The IHS Markit India Services PMI declined to 52.3 in December 2020 from 53.7 in the previous month, and below market expectations of 54. The reading pointed to the third straight month of expansion in the services sector, but the weakest rate in the current sequence, as both output and new orders growth eased to three-month lows, due to the negative impact of COVID-19 on demand. Meanwhile, employment fell, after increasing in the previous month. On the price front, input cost inflation accelerated to the fastest pace since February, due to higher prices for a number of items, including cleaning products and fuel. Meanwhile, selling prices declined, as some firms sought to beat competition and secure new work. Looking ahead, business sentiment weakened, as optimism was curbed by uncertainty surrounding the COVID-19 pandemic, rupee depreciation and inflationary pressures.
2021-01-06
India Services Sector Grows for 2nd Month
The IHS Markit India Services PMI decreased to 53.7 in November 2020 from 54.1 in the previous month, and below market expectations of 55.5. The latest reading pointed to the second straight month of expansion in the services sector, as output continued to expand, while new orders rose for second straight month, amid the loosening of coronavirus pandemic restrictions. At the same time, employment increased for first time in nine months. On the price front, the rate of input cost inflation picked up to a-nine month high and outpaced its long-run average. Meanwhile, selling prices increased at an above-trend rate. The latest increase was the quickest since July 2017. Looking ahead, business sentiment strengthened to a nine-month high, due to hopes that a vaccine for COVID-19 will be rolled out.
2020-12-03
India Services Sector Returns to Growth
The IHS Markit India Services PMI increased to 54.1 in October 2020 from 49.8 in the previous month, easily beating market expectations of 51.2. The latest reading pointed to the first time expansion in the services sector since February, as output expanded faster while new orders rose for first time since February, amid the loosening of coronavirus pandemic restrictions. At the same time, employment declined for the eighth month in a row and at a solid pace and matched that recorded in September. On the price front, the rate of input cost inflation picked up to an-eight month high, but there was a softer rise in prices charged for the provision of services. Looking ahead, business sentiment strengthened, when firms became upbeat for the first time in five months, but was subdued in the context of historical survey data.
2020-11-04

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.