The Services PMI in Sri Lanka increased to 43.1 in May of 2020 from an all-time low of 29.8 in April, on steps taken towards resumption of civilian life and institutions back to normalcy in the country following the curb in the spread of Covid-19 pandemic. Improvements were seen in business activity (34.2 vs 8.9 in April), new business (45.7 vs 26.8) and expectations for activity (46.7 vs 18.9). This was reflected in activities such as transportation, wholesale & retail trade, professional services and telecommunication sub-sectors. Still, others related to the tourism industry including accommodation, food & beverage declined owing to restrictions imposed on hotel operations and zero international tourist arrivals for a second month. Meanwhile, employment contracted more (27.7 vs 33.7), due to the halt of new recruitments amidst retirements. Also, backlogs of work continued to increase for a third month (46.7 vs 18.9), due to the lingering effects of the pandemic.

Services Pmi in Sri Lanka averaged 56.08 points from 2015 until 2020, reaching an all time high of 66.80 points in May of 2015 and a record low of 29.80 points in April of 2020. This page provides - Sri Lanka Services Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Sri Lanka Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Central Bank of Sri Lanka

Services Pmi in Sri Lanka is expected to be 47.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Pmi in Sri Lanka to stand at 53.00 in 12 months time. In the long-term, the Sri Lanka Services PMI is projected to trend around 56.90 points in 2021 and 57.00 points in 2022, according to our econometric models.

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Sri Lanka Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
43.10 29.80 66.80 29.80 2015 - 2020 points Monthly


News Stream
Sri Lanka Services Sector Shrinks Less in May
The Services PMI in Sri Lanka increased to 43.1 in May of 2020 from an all-time low of 29.8 in April, on steps taken towards resumption of civilian life and institutions back to normalcy in the country following the curb in the spread of Covid-19 pandemic. Improvements were seen in business activity (34.2 vs 8.9 in April), new business (45.7 vs 26.8) and expectations for activity (46.7 vs 18.9). This was reflected in activities such as transportation, wholesale & retail trade, professional services and telecommunication sub-sectors. Still, others related to the tourism industry including accommodation, food & beverage declined owing to restrictions imposed on hotel operations and zero international tourist arrivals for a second month. Meanwhile, employment contracted more (27.7 vs 33.7), due to the halt of new recruitments amidst retirements. Also, backlogs of work continued to increase for a third month (46.7 vs 18.9), due to the lingering effects of the pandemic.
2020-06-16
Sri Lanka Services PMI Drops to New Record Low
The Services PMI in Sri Lanka fell to 29.8 in April of 2020 from 32 in the previous month. The reading pointed to the deepest contraction on record in the services sector amid prolonged domestic travel restrictions and extended lockdown measures to fight the coronavirus. Business activity (8.9 vs 17.1 in March) and employment (33.7 vs 34.8) continued to fall sharply. Meanwhile, new business (26.8 vs 25.7) and expectations for activity (18.9 vs 16.9) improved slightly, as many respondents were rather optimistic on future business activities with the steps taken towards resumption of civilian life and institutions back to normalcy.
2020-05-19
Sri Lanka Services PMI Falls to Record Low
The Services PMI in Sri Lanka went down to 32 in March 2020 from 50.2 in the previous month. The reading pointed to the steepest contraction in the services sector amid travel restrictions and lockdowns due to the coronavirus outbreak. All major sub-indices dropped: new business (25.7 vs 52.7 in February); business activity (17.1 vs 53.8); employment (34.8 vs 46.2) and expectations for activity (16.9 vs 52.7).
2020-04-17
Sri Lanka Services PMI at 9-Month Low
The Services PMI in Sri Lanka dropped to a nine-month low of 50.2 in February 2020 from 57.0 in the previous month, as all major sub-indices fell: new business (52.7 vs 60.4 in January); business activity (53.8 vs 61.4); employment (46.2 vs 52.5)and expectations for activity (52.7 vs 66.5).
2020-03-19

Sri Lanka Services PMI
The Services Sri Lanka PMI (Purchasing Managers' Index) is based on data collected from a representative panel of 140 companies based in the Sri Lanka's service sector. 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.