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. source: Central Bank of Sri Lanka

Services PMI in Sri Lanka averaged 55.32 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 October of 2021.

Services PMI in Sri Lanka is expected to be 58.00 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.

Ok
The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Sri Lanka Services PMI


News Stream
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 Growth Accelerates to 4-Month High
The Services PMI in Sri Lanka rose to 55.7 in July of 2021 from 51.3 in the prior month. This marked the strongest pace of expansion in the service sector since March, mainly driven by the increases in new businesses. The improvements observed in financial services, insurance, transportation, telecommunication and real-estate sub-sectors. Meanwhile, business activity (63.5 from 49.0 in June) and new business (58.6 from 49.0) rebounded sharply, due to easing the relaxation of the travel restrictions. Also, employment declined at a slower pace (49.0 from 46.1), as retirements and resignations exceeded the number of recruitments carried out during the month. Meantime, backlogs of work expanded at a slower pace (53.2 vs 54.2). Lastly, positive sentiment strengthened, due to the gradual normalization of economic activities.
2021-08-17
Sri Lanka Service Sector Rebounds in June
The Services PMI in Sri Lanka rebounded to 51.3 in June of 2021 from a 13-month low of 39.5 in the prior month, mostly lifted by expectations of higher activity levels in the next quarter on hopes that restrictions to travel will be relaxed. Meanwhile, business activity (49.0 from 28.9 in May) and new business (49.0 from 36.3) shrank at a softer pace, still impacted by a drop in demand for discretionary goods and services, linked to the latest wave of COVID-19. Also, employment continued to retreat (46.1 from 32.8), due to retirements and resignations, while businesses struggled to recruit suitable applicants. Finally, public health measures, such as localized lockdowns and island wide travel restrictions continued to pressure backlogs of work (54.2 from 60.9).
2021-07-15
Sri Lanka Services PMI Falls to 13-Month Low
The Services PMI in Sri Lanka dropped to 39.5 in May of 2021 from 48.9 in the prior month, signalling the steepest contraction in the services sector since April of 2020. Both business activity (28.9 from 47.9 in April) and new business (36.3 from 48.9) shrank at a faster pace, amid travel restrictions imposed to contain the spread of the third wave of COVID-19 pandemic. Wholesale and retail trade, other personal activities and accommodation, food and beverage, and professional services sub-sectors contributed the most towards the decline. Also, employment declined (32.8 from 48.4), due to retirements, resignations and contract expirations. Meanwhile, public health measures, such as localized lockdowns and island wide travel restrictions led to an increase in backlogs of work (60.9 from 54.4). Finally, expectations on future business activity weakened (38.6 from 44.7), due to the anxiety among businesses about growth prospects with the intensification of COVID-19 pandemic.
2021-06-16

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.

Sri Lanka Last Reference Previous Highest Lowest Unit
Industrial Production 5.10 Jun/21 17.60 87.90 -48.70 percent
Capacity Utilization 67.00 Dec/20 81.00 82.00 67.00 percent
Changes in Inventories -64200.50 Dec/20 -7711.60 1217425.70 -64200.50 LKR Million
Car Registrations 191.00 Jun/21 192.00 15017.00 191.00
Services PMI 46.20 Aug/21 55.70 66.80 29.80 points
Manufacturing PMI 45.10 Aug/21 57.80 67.30 24.20 points
Business Confidence 68.00 Jun/21 88.00 136.00 20.00 points