The Sri Lanka Services PMI declined 11 points to an all-time low of 45.3 in April 2019 from 56.3 in the previous month, amid heightened uncertainty following Easter Sunday attack. All sub-indices fell: new business (44.0 vs 57.9 in March); business activity (45.1 vs 63.5); employment (47.3 vs 51.7); backlogs of work (45.3 vs 48.1); and expectations of activity (44.6 vs 60.1). Services Pmi in Sri Lanka averaged 57.78 from 2015 until 2019, reaching an all time high of 66.80 in May of 2015 and a record low of 45.30 in April of 2019.
Services Pmi in Sri Lanka is expected to be 49.90 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Pmi in Sri Lanka to stand at 53.50 in 12 months time. In the long-term, the Sri Lanka Services PMI is projected to trend around 56.90 in 2020, according to our econometric models.