The Services PMI in Sri Lanka fell to 29.8 in April of 2020 from 32 in the previous month. The reading pointed to the deepest contraction on record in the services sector amid prolonged domestic travel restrictions and extended lockdown measures to fight the coronavirus. Business activity (8.9 vs 17.1 in March) and employment (33.7 vs 34.8) continued to fall sharply. Meanwhile, new business (26.8 vs 25.7) and expectations for activity (18.9 vs 16.9) improved slightly, as many respondents were rather optimistic on future business activities with the steps taken towards resumption of civilian life and institutions back to normalcy.
Services Pmi in Sri Lanka averaged 56.29 points from 2015 until 2020, 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 June of 2020. source: Central Bank of Sri Lanka
Services Pmi in Sri Lanka is expected to be 42.00 points 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 53.00 in 12 months time. In the long-term, the Sri Lanka Services PMI is projected to trend around 56.90 points in 2021 and 57.00 points in 2022, according to our econometric models.