The Sri Lanka Services PMI increased to 57.4 in November of 2019 from 56.9 in the previous month. That was the highest reading since July last year, as expectations for activity improved (78.1 vs 68.2 in October, the highest since June 2015, while employment contracted at a softer pace (49.4 vs 44.0). On the other hand, new business expanded less (52.2 vs 61.5) while business activity (59) expanded the same as in the prior month. Services Pmi in Sri Lanka averaged 57.24 points from 2015 until 2019, reaching an all time high of 66.80 points in May of 2015 and a record low of 44.70 points in May of 2019. source: Central Bank of Sri Lanka

Services Pmi in Sri Lanka is expected to be 54.10 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 2020, according to our econometric models.

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Sri Lanka Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
57.40 56.90 66.80 44.70 2015 - 2019 points Monthly


News Stream
2019-11-15
Sri Lanka Services Growth Strongest in 3 Months
The Sri Lanka Services PMI increased to 56.9 in October of 2019 from 52.7 in the previous month. That was the highest reading since July, supported by accelerated expansion in new business (61.5 vs 55.0 in September), business activity (59.0 vs 52.5) and expectations for activity (68.2 vs 63.4). On the other hand, a further contraction was seen in employment (44.0 vs 44.7).

2019-10-15
Sri Lanka Services Activity Growth Slows in September
Sri Lanka's Services PMI decreased to 52.7 in September 2019 from 52.9 in the previous month, amid a slowdown in business activity (52.5 vs 59.6 in August) and expectations for activity remained steady (at 63.4). Also, employment shrink for the sixth consecutive month (47 vs 43.6), due to delays in filling vacant positions since recruitments are not carried out in the later part of the year and skill mismatch in the labour force. Additionally, backlogs of work sub index remained at negative territory (45.8 vs 45.3) implying that any increase in demand could be met with the existing capacity of service providers. Meanwhile, new businesses increased (55 vs 52.7), as accommodation, food & beverage services; financial services; and transportation sectors contributed to growth.

2019-09-17
Sri Lanka Services Activity Growth Slows
Sri Lanka's Services PMI dropped to 52.9 in August 2019 from a 12-month high of 57.1 in the previous month, driven by a slowdown in new businesses (52.7 vs 59.9), business activity (59.6 vs 63.5) and expectations for activity (63.4 vs 71.4). In addition, employment continued to contract (43.6 vs 43.2), due to retirements and time lags in filling vacant positions; while backlogs of work also fell (45.3 vs 47.7).

2019-08-15
Sri Lanka Services PMI at 1-Year High
The Sri Lanka Services PMI increased to 57.1 in July 2019 from 53.1 in the previous month. That was the highest reading since July last year, underpinned by accelerated expansion in new business (59.9 vs 57.4 in June), business activity (63.5 vs 57.4) and expectations for activity (71.4 vs 61.8). By contrast, a further contraction was seen in employment (43.2 vs 44.7) and backlogs of work (47.7 vs 44.1).

2019-07-15
Sri Lanka Services Activity Returns to Growth
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).

2019-06-18
Sri Lanka Services Activity Contracts at Record Pace
The Sri Lanka Services PMI declined 0.6 points to an all-time low of 44.7 in May 2019 from 45.3 in the previous month, pointing to a sharp contraction in accommodation, food & beverage, and other personal services sectors following Easter Sunday attack. Further declines were seen in new business (49.4 vs 44.0 in April); business activity (41.7 vs 45.1); employment (36.4 vs 47.3); backlogs of work (46.4 vs 45.3); and expectations of activity (49.4 vs 44.6).


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 Business Last Previous Highest Lowest Unit
Industrial Production 0.50 2.50 35.20 -11.40 percent [+]
Capacity Utilization 81.00 81.00 82.00 69.00 percent [+]
Changes in Inventories 313742.80 1217425.70 1217425.70 313742.80 LKR Million [+]
Car Registrations 3499.00 3321.00 15017.00 308.00 [+]
Internet Speed 8527.30 7307.31 8527.30 374.62 KBps [+]
IP Addresses 85420.00 107335.00 246049.00 31627.00 IP [+]
Services Pmi 57.40 56.90 66.80 44.70 points [+]
Business Confidence 63.00 74.00 136.00 61.00 points [+]
Corruption Index 38.00 38.00 40.00 31.00 Points [+]
Corruption Rank 89.00 91.00 97.00 52.00 [+]
Competitiveness Index 57.11 56.00 57.11 3.84 Points [+]
Competitiveness Rank 84.00 85.00 85.00 52.00 [+]
Ease of Doing Business 99.00 100.00 113.00 83.00 [+]
Manufacturing Pmi 56.00 57.60 67.30 41.00 points [+]
Manufacturing Production 0.50 2.50 7.80 -3.00 percent [+]