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.