Lankapage Logo CP 18 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Expansion of Sri Lanka's manufacturing and services sectors ease in January 2017
Thu, Feb 16, 2017, 08:53 pm SL Time, ColomboPage News Desk, Sri Lanka.

Feb 16, Colombo: Both manufacturing and service sectors of Sri Lanka recorded moderate expansion in January 2017, the Central Bank's recent Purchasing Managers' Index (PMI) Survey showed.

According to the survey, the Manufacturing PMI decreased by 2.1 index points to 56.2 in January 2017 compared to December 2016 while the Services Sector PMI eased to 57.5 in January 2017 from 59.8 in December 2016.

The deceleration in Manufacturing PMI indicate that the manufacturing activities expanded at a moderate pace in January 2017 largely attributable to post seasonal realignment of business plans ahead as reflected in Production and New Orders sub-indices.

The Stock of Purchases sub-index increased in January indicating an accumulation of stocks mainly as a precaution to face possible delays of supply of materials which is also associated with the lengthening of Suppliers' Delivery Time. The Employment sub-index also increased compared to the previous month. Overall data points to an expansion where all the sub-indices are above the neutral 50.0 threshold. The expectations for activities indicated an improvement for the next three months.

The decline in Services PMI over the last month's value indicates that economic activities in the Services sector expanded at a slower rate in January 2017, compared to the previous month.

The deceleration in Services PMI was caused by the decelerations in New Businesses and Business Activity sub-indices and the decline in Backlogs of Work sub-index.

Employment sub-index remained unchanged while Expectations for Activity sub-index increased in January 2017 compared to December 2016. Prices Charged and Future Labor Cost, which are not taken into consideration in PMI compilation process, increased in January 2017 compared to the previous month. Future Labor Cost is measured by Expectations for Labor Cost, a newly introduced variable from January 2017.

The Central Bank releases the results of the PMI survey conducted to provide purchasing professionals, business decision-makers and economic analysts with a timely set of data to help better understand industry conditions.

 


ColomboPage - Recent 10 Stories ::
Price control on several essential food items considered to arrest rising cost of living
-- [12 minutes ago]
Sri Lanka to advance the traditional indigenous medicine and methods
-- [1 hour and 55 minutes ago]
Sri Lanka's CICT invests over USD 10 Mn in green infrastructure at Colombo Port
-- [2 hours ago]
Red Herring names 99X Technology as one of Asia's most promising tech companies
-- [3 hours ago]
AIS Principal Harshana Perera honored at Icons of Learning Summit, Singapore
-- [4 hours ago]
Traditional Scottish Pipers in Colombo
Criminal investigators face many challenges - Secretary to the President
Sri Lanka receives World No Tobacco Day Award for third time
Indian, Sri Lankan Premiers discuss entire gamut of bilateral relations
JO brings no confidence motion against Minister for postponement of elections

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.