The IHS Markit India Services PMI increased to 49.8 in September 2020 from 41.8 in the previous month, easily beating market expectations of 44.7. The latest reading signaled a stabilization in the service sector output, due to the reopening of business units amid the loosening of coronavirus pandemic restrictions. New orders and new business from abroad dropped at the slowest pace for six months. At the same time, employment declined for the seventh month in a row and at a quicker rate than in August. On the price front, input cost inflation accelerated to a seven-month high, due to higher fuel, meat and vegetable prices. Meanwhile, output charge inflation was little-changed. Looking ahead, firms were upbeat about the year-ahead outlook for business activity for the first time since April.

Services PMI in India averaged 50.15 points from 2012 until 2020, 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 October of 2020. source: Markit Economics

Services PMI in India is expected to be 51.90 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 51.00 in 12 months time. In the long-term, the India Services PMI is projected to trend around 52.60 points in 2021 and 50.80 points in 2022, according to our econometric models.

Ok
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.

Please Paste this Code in your Website
width
height
India Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
49.80 41.80 57.50 5.40 2012 - 2020 points Monthly


News Stream
India Service Sector Stabilizes in September
The IHS Markit India Services PMI increased to 49.8 in September 2020 from 41.8 in the previous month, easily beating market expectations of 44.7. The latest reading signaled a stabilization in the service sector output, due to the reopening of business units amid the loosening of coronavirus pandemic restrictions. New orders and new business from abroad dropped at the slowest pace for six months. At the same time, employment declined for the seventh month in a row and at a quicker rate than in August. On the price front, input cost inflation accelerated to a seven-month high, due to higher fuel, meat and vegetable prices. Meanwhile, output charge inflation was little-changed. Looking ahead, firms were upbeat about the year-ahead outlook for business activity for the first time since April.
2020-10-06
India Service Activity Contraction Continues in August
The IHS Markit India Services PMI rose to 41.8 in August 2020 from 34.2 in the previous month, beating market expectations of 39.2. This was the highest reading since March, before the escalation of the coronavirus pandemic. However, it was still below the neutral level, signalling a fifth consecutive decline in private sector business activity. New order dropped at the slowest pace for five months, while the rate of decline in new export orders was among the steepest since September 2014. At the same time, employment fell further albeit at a slower pace. On the price front, both input costs and output charges rose in August. Looking ahead, sentiment was neutral, amid hopes for the passing of COVID-19, market uncertainty and expectations of extended lockdown measures.
2020-09-03
India Services Activity Shrinks More than Estimated
The IHS Markit India Services PMI increased to 34.2 in July 2020 from 33.7 in the previous month, but below market expectations of 38.8. However, it still pointed to the fourth-sharpest deterioration in services activity in nearly 15 years of data collection, amid the ongoing lockdown measures implemented to curb the COVID-19 pandemic. Both output and new orders continued to decline due to a further drop in sales. The latest decline in new export orders was steeper than that for total new business, but the least severe since March. Meantime, employment fell further to the fastest on record. On the price front, input costs accelerated for the first time since March amid reports of greater fuel and cargo costs alongside higher fees charged by suppliers, while output charge dropped, with the rate of deflation accelerating to a solid pace. Looking ahead, services companies outlook remains negative, amid lockdown measures and expectations of a severe economic recession.
2020-08-05
India Services PMI Third-Lowest on Record
The IHS Markit India Services PMI increased to 33.7 in June 2020 from the second-lowest reading of 12.6 in the previous month, and above market expectations of 22.3. However, it still pointed to the third-sharpest deterioration in services activity since the series began 14 years ago, amid the ongoing economic disruption caused by the coronavirus pandemic. New orders fell at a sharp pace, which firms attributed to reduced consumption habits and lower requirements at key clients and export sales collapsed due to travel restrictions. Also, employment declined further. On the price front, input cost inflation eased, while output charge fell modestly. Looking ahead, services companies became more pessimistic, amid of prolonged economic weakness domestically and overseas.
2020-07-03

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.