India Services PMI2012-2021 Data | 2022-2023 Forecast | Calendar | Historical

The IHS Markit India Services PMI declined to 54.0 in April of 2021 from 54.6 in the previous month, and below market expectations of 51.1. The reading pointed to the seventh straight month of expansion in the sector, but the weakest pace since January, as output growth eased to 3-month low, while new orders continued to expand, with the rate of expansion was stable. External demand continued to worsen, with new orders from abroad decreasing for the fourteenth month running. At the same time, the pace of job shedding slowed to the weakest since January. On the price front, input cost inflation accelerated to nine-and-a-half year-high. As a result, selling prices continued to increase. Looking ahead, business sentiment weakened to the lowest since last October, due to the escalation of the pandemic.

The IHS Markit India Services PMI declined to 54.6 in March of 2021 from 55.3 in the previous month, and slightly above market expectations of 54.5. The reading pointed to the sixth straight month of expansion in the sector, as both output and new orders continued to grow, despite the rate of expansion softened. External demand continued to worsen, with new orders from abroad decreasing for the thirteenth straight month. At the same time, the pace of job shedding accelerated, with backlogs of work rose for the tenth month running, but at the weakest pace since last June. On the price front, input cost inflation eased from February's eight-year high. Meanwhile, selling prices increased, amid efforts to protect margins given ongoing increases in input costs. Looking ahead, business sentiment was unchanged, amid the roll-out of COVID-19 vaccines underpinned positive expectations towards growth prospects.

The IHS Markit India Services PMI increased to 55.3 in February of 2021 from 52.8 in the previous month, and above market expectations of 53. The reading pointed to the steepest month of expansion since February last year, as new order growth picked up to a year high despite a continued fall in export sales. At the same time, the pace of job shedding accelerated, but was moderate overall. On the price front, input cost inflation was the strongest since February 2013, amid reports of higher freight, fuel and retail prices. Meanwhile, selling prices were stable. Looking ahead, business sentiment improved to a one-year high, as the roll-out of COVID-19 vaccines underpinned positive expectations towards growth prospects.

The IHS Markit India Services PMI increased to 52.8 in January of 2021 from 52.3 in the previous month, but below market expectations of 53. The reading pointed to the fourth straight month of expansion in the services sector, as both output and new orders continued to grow. Output expanded due to marketing efforts, the reopening of some establishments and strengthening demand all supported the increase in sales. At the same time, the growth of total new orders was helped by ongoing price discounting strategies. At the same time, employment declined further, while exports contracted sharply. On the price front, input cost rose for the seventh straight month, due to higher prices of both fuel and materials. Meanwhile, selling prices continued to decline. Looking ahead, business sentiment improved to an 11-month high, supported by the launch of the COVID-19 vaccine program.