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. source: Markit Economics
Services PMI in India averaged 50.39 points from 2012 until 2021, reaching an all time high of 57.50 points in January of 2013 and a record low of 5.40 points in April of 2020. This page provides the latest reported value for - India Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. India Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Services PMI in India is expected to be 52.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in India to stand at 52.00 in 12 months time. In the long-term, the India Services PMI is projected to trend around 50.80 points in 2022 and 51.20 points in 2023, according to our econometric models.