Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka's manufacturing, services sectors slow down in November 2018
Mon, Dec 17, 2018, 11:38 pm SL Time, ColomboPage News Desk, Sri Lanka.

Dec 17, Colombo: According to the Sri Lanka Purchasing Managers' Index (PMI) released by the Statistics Department of Central Bank, the industrial production and services in Sri Lanka have eased in November 2018 compared to the same month in 2017.

The Manufacturing Sector PMI decreased 3.9 index points to 54.3 in November 2018 from 58.2 index points recorded in October 2018.

The slowdown observed in manufacturing activities in November was mainly driven by the slowdown in new orders and production, especially in manufacturing of textiles, wearing apparels, leather and related activities.

However, new orders and production in the manufacturing of food and beverages activities has improved with the Christmas season demand.

Employment remains unchanged during the period due to the difficulties in recruiting additional employees, especially in manufacturing of furniture activities.

All the sub-indices of PMI Manufacturing recorded values above the neutral 50.0 threshold signaling an overall expansion in November yet at a slower pace compared to October 2018.

The Services sector expanded at a slower pace in November 2018, recording the lowest index value since survey began in May 2015.

The PMI of Services Sector decreased by 2.9 index points to 52.6 compared to October 2018.

The slowdown in the Services sector was mainly due to the record low index value reported for Expectations for Activity. A notable slowdown was also observed in New Businesses and Employment.

The current political situation in the country and uncertainty on future policies weighed on respondentsí Expectations for activity and the growth in New Businesses.

However, on a positive note, business activities of wholesale & retail trade and accommodation, food & beverage sub sectors reported a growth due to upcoming festive season and the peak season for tourism.

 

ColomboPage - Recent 10 Stories ::
PM says new political alliance will be set up soon
-- [1 hour and 25 minutes ago]
FCID investigations reveal irregularities in investments of EPF funds
-- [1 hour and 54 minutes ago]
Sri Lankan President to commence working visit to Singapore today
-- [2 hours ago]
Education Minister bans practice of collecting money from parents for school activities
-- [2 hours ago]
Celebrating entrepreneurship: Hatch launches with a masterclass in start-up culture
-- [3 hours ago]
Sri Lanka handlooms to go hi-tech after decades
-- [4 hours ago]
Committee appointed to restructure SriLankan airlines wraps up work
Committee report on disorderly conduct in parliament handed over to Speaker
Sri Lanka Army releases 39 acres of occupied land in the East
Sri Lankan President instructs to fight Fall Armyworm infestation on a war footing

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.