The IHS Markit India Services PMI jumped to 53.8 in July 2019, easily beating market consensus of 50.4 and pointing to the quickest increase in output in one year, amid a promising government budget and strengthening demand. New business inflows rose the most since October 2016, with new export work increasing the most since at least September 2014, and employment growth was the strongest in nearly eight-and-a-half years. Meanwhile, unfinished business across the Indian service sector increased the least in 2019 so far. On the price front, input cost inflation rose to a five-month high, due to fuel and raw material prices. Still, the overall rate of inflation remained modest and below the historical average. Meantime, the overall rate of charge inflation was marginal and the joint-slowest in five months. Lastly, confidence strengthened from June's four-month low, as concerns about uncertain public policies have diminished. Services PMI in India is reported by Markit Economics.

Services PMI in India is expected to be 50.80 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 50.80 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
width
height
Forecast Data Chart
The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


India Business Last Previous Highest Lowest Unit
Business Confidence 112.80 113.50 127.50 96.40 Index Points [+]
Manufacturing PMI 52.50 52.10 55.00 47.90 [+]
Services PMI 53.80 49.60 57.50 44.60 Index Points [+]
Industrial Production 2.00 4.60 19.90 -7.20 percent [+]
Industrial Production Mom -3.90 5.90 14.80 -14.20 percent [+]
Manufacturing Production 1.20 4.50 24.30 -9.10 percent [+]
Changes in Inventories 417.62 381.77 731.25 184.29 INR Billion [+]
Car Production 217682.00 182596.00 292861.00 7277.00 Units [+]
Car Registrations 183425.00 195933.00 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 1.60 2.40 13.00 -17.50 percent [+]
Steel Production 9336.00 9196.00 9412.00 713.00 Thousand Tonnes [+]
Cement Production 28392.00 28562.00 33124.00 9355.00 Thousands of Tonnes [+]
Capacity Utilization 76.10 75.90 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 53.90 50.80 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 [+]
Deposit Growth 10.10 10.60 29.30 2.70 percent [+]
Ease of Doing Business 77.00 100.00 139.00 77.00 [+]


India Services PMI

The IHS Markit 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 August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
53.80 49.60 57.50 44.60 2012 - 2019 Index Points Monthly




Country Last Previous
Australia 43.90 Jul/19
Brazil 52.20 Jul/19
China 51.60 Jul/19
Euro Area 53.40 Aug/19
France 53.30 Aug/19
Germany 54.40 Aug/19
India 53.80 Jul/19
Italy 51.70 Jul/19
Japan 53.40 Aug/19
Russia 50.40 Jul/19
Spain 52.90 Jul/19
United Kingdom 51.40 Jul/19
United States 50.90 Aug/19


Related

Latest