The Sri Lanka Services PMI jumped 8.4 points to 53.1 in June 2019 from an all-time low of 44.7 in the previous month, boosted by a rebound in new business (57.4 vs 49.4 in May); business activity (57.4 vs 41.7); and expectations of activity (61.8 vs 49.4). Meanwhile, employment dropped at a softer pace (44.7 vs 36.4) and backlogs of work continued to fall (44.1 vs 46.4). Services Pmi in Sri Lanka averaged 57.43 from 2015 until 2019, reaching an all time high of 66.80 in May of 2015 and a record low of 44.70 in May of 2019.
Services Pmi in Sri Lanka is expected to be 53.50 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 53.50 in 12 months time. In the long-term, the Sri Lanka Services PMI is projected to trend around 56.90 in 2020, according to our econometric models.