The Nikkei India Services PMI dropped to 50.2 in May 2019 from 51.0 in April and slightly above market forecasts of 50.1. The reading pointed to the weakest expansion in services activity since May last year when the sector contracted, as disruptions arising from the elections hampered growth of new work intakes. New business rose at the softest pace in eight months. Also, backlogs of work increased at the weakest rate since January as delayed client payments prevented firms from working on their outstanding business. On the other hand, new export orders advanced for the third consecutive month driven by a strong foreign demand and the job creation rate went up at the stronger pace than the average on the survey history. On the price front, input costs rose the least in near 2-1/2-years, output cost inflation eased. Lastly, sentiment remained positive, amid expectations of favorable public policies, better demand conditions and planned marketing. Services PMI in India is reported by Markit Economics.

Services PMI in India is expected to be 51.50 Index 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 49.80 in 12 months time. In the long-term, the India Services PMI is projected to trend around 52.60 Index Points in 2020, according to our econometric models.

India Services PMI
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India Business Last Previous Highest Lowest Unit
Business Confidence 113.50 116.20 127.50 96.40 Index Points [+]
Manufacturing PMI 52.70 51.80 55.00 47.90 [+]
Services PMI 50.20 51.00 57.50 44.60 Index Points [+]
Industrial Production 3.40 0.40 19.90 -7.20 percent [+]
Industrial Production Mom -9.90 10.40 14.80 -14.20 percent [+]
Manufacturing Production 2.80 0.10 24.30 -9.10 percent [+]
Changes in Inventories 417.62 381.77 731.25 184.29 INR Billion [+]
Car Production 217200.00 229204.00 292861.00 7277.00 Units [+]
Car Registrations 210462.00 218679.00 304900.00 6508.00 [+]
Internet Speed 6492.06 5567.50 6492.06 784.09 KBps [+]
IP Addresses 9378846.00 9261013.00 14278593.00 1768679.00 IP [+]
Mining Production 5.10 0.80 13.00 -17.50 percent [+]
Steel Production 8785.00 9412.00 9412.00 713.00 Thousand Tonnes [+]
Cement Production 28727.00 33124.00 33124.00 9355.00 Thousands of Tonnes [+]
Capacity Utilization 75.90 74.80 83.20 71.00 percent [+]
Competitiveness Index 62.02 60.83 62.02 4.20 Points [+]
Competitiveness Rank 58.00 63.00 71.00 42.00 [+]
Composite Pmi 51.70 51.70 55.40 46.00 [+]
Corruption Index 41.00 40.00 41.00 26.30 Points [+]
Corruption Rank 78.00 81.00 95.00 35.00 [+]
Ease of Doing Business 77.00 100.00 139.00 77.00 [+]


India Services PMI

The Nikkei India Services PMI (Purchasing Managers' Index) is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 350 private service sector companies. 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. 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 - actual data, historical chart and calendar of releases - was last updated on June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
50.20 51.00 57.50 44.60 2012 - 2019 Index Points Monthly




Country Last Previous
Australia 52.50 May/19
Brazil 47.80 May/19
China 52.70 May/19
Euro Area 53.40 Jun/19
France 53.10 Jun/19
Germany 55.60 Jun/19
India 50.20 May/19
Italy 50.00 May/19
Japan 51.70 May/19
Russia 52.00 May/19
Spain 52.80 May/19
United Kingdom 51.00 May/19
United States 50.70 Jun/19


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