The Services PMI in Sri Lanka edged down to 54.3 in September of 2020 from 56 in August but still pointed to a strong growth in the services sector as the economy gradually returns to pre-pandemic levels. New business improved (58.9 vs 58.3), particularly in financial services and insurance subsectors. Business activity continued to expand although at a slower pace (60.4 vs 66.7), with financial services making the biggest upward contribution. Cargo handling services were also able to handle more transhipments in September. Employment was nearly stable (49.5 vs 38.2) and backlogs of work continued to remain in the negative territory (43.2 vs 45.8), indicating that any increase in demand can be met with the existing capacity. Meanwhile, expectations for future business activities increased further although some companies were worried about the risk of spreading COVID-19 in the country. source: Central Bank of Sri Lanka

Services Pmi in Sri Lanka averaged 55.89 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 November of 2020.

Services Pmi in Sri Lanka is expected to be 51.00 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 58.00 in 12 months time. In the long-term, the Sri Lanka Services PMI is projected to trend around 57.00 points in 2021, according to our econometric models.

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Sri Lanka Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
54.30 56.00 66.80 29.80 2015 - 2020 points Monthly


News Stream
Sri Lanka Services Growth Slows in September
The Services PMI in Sri Lanka edged down to 54.3 in September of 2020 from 56 in August but still pointed to a strong growth in the services sector as the economy gradually returns to pre-pandemic levels. New business improved (58.9 vs 58.3), particularly in financial services and insurance subsectors. Business activity continued to expand although at a slower pace (60.4 vs 66.7), with financial services making the biggest upward contribution. Cargo handling services were also able to handle more transhipments in September. Employment was nearly stable (49.5 vs 38.2) and backlogs of work continued to remain in the negative territory (43.2 vs 45.8), indicating that any increase in demand can be met with the existing capacity. Meanwhile, expectations for future business activities increased further although some companies were worried about the risk of spreading COVID-19 in the country.
2020-10-16
Sri Lanka Services Sector Growth Quickens to 7-Month High
The Services PMI in Sri Lanka rose to 56 in August of 2020 from 51.4 in July, pointing to the strongest expansion in the sector since January indicating the gradual recovery to the pre-pandemic levels. Business activity grew sharply (66.7 vs 61 in July) and new business continued to improve (58.3 vs 53.5), particularly boosted by financial services, insurance and transportation sub-sectors. Employment declined for a seventh consecutive month owing to halt in new recruitment and backlogs of work also decreased. Looking ahead, the gauge for Expectations for Activity improved with the positive sentiment being linked to a revival of economic activities in the forthcoming period
2020-09-17
Sri Lanka Services Sector Expands the Most for 6 Months
The Services PMI in Sri Lanka rose to 51.4 in July 2020 from 50.4 in the previous month, pointing to the steepest month of expansion in the sector for six months after being hardly affected by COVID-19 pandemic. Business activity grew sharply and new business continued to improve, particularly led by financial services and insurance sub-sectors. Employment declined for a sixth consecutive month owing to halt in new recruitment and backlogs of work were also lower since most of the firms are operating under usual working environment. Looking ahead, the gauge for Expectations for Activity jumped, with the positive sentiment being linked to a revival of economic activities in the forthcoming period.
2020-08-17
Sri Lanka Services Sector Returns to Growth
The Services PMI for Sri Lanka jumped to 50.4 in June of 2020 from 43.1 in May, pointing to the strongest growth in the services sector since January, as economic activity returned to normal after coronavirus-induced mobility restrictions were lifted. New businesses (53.6 vs 45.7), business activity (54.5 vs 34.2) and expectations for activity (60.7 vs 46.7) improved. Also, employment fell at a softer pace (34.7 vs 27.7) amid halt of new recruitments and backlogs of work declined (48.4 vs 61) implying that any increase in demand could be met with the existing capacity of service provider.
2020-07-16

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.