Sri Lanka's manufacturing PMI 55.5 in Aug; signals activity expansion

20 Sep '24

1 min read

Sri Lanka's manufacturing PMI 55.5 in Aug; signals activity expansionq

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Insights

Sri Lanka's manufacturing PMI was 55.5 in August, indicating an expansion in manufacturing activities, but at a slower rate compared to the previous month.
All the sub-indices, except for employment, remained above the neutral threshold in the month.
The employment sub-index fell month on month in August and suppliers' delivery time continued to lengthen.

Sri Lanka’s purchasing managers’ index (PMI) for manufacturing was 55.5 in August this year, indicating an expansion in manufacturing activities, but at a slower rate compared to the previous month.

All the sub-indices, except for employment, remained above the neutral threshold in the month, a Central Bank of Sri Lanka press release said.

The expansion in new orders and production was mainly driven by the manufacture of food and beverages sector. Further, stock of purchases expanded during the month in line with the new orders and production.

The employment sub-index decreased month on month in August and suppliers' delivery time continued to lengthen.

Expectations for manufacturing activities over the next three months remained positive, primarily due to the optimistic outlook on year-end seasonal demand, in spite of election-related uncertainties.

Fibre2Fashion News Desk (DS)

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