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PMI bounces back to 54.3 in September

18 Oct 2021

The Purchasing Managers’ Index (PMI) of Sri Lanka bounced back to 54.3 in the month of September 2021 while increasing by 9.2 index points in comparison to August 2021, stated the Statistics Department of the Central Bank of Sri Lanka (CBSL). The statement further said that the increase has been mainly attributable to the significant improvements that can be observed in the New Orders and Employment sub-indices. The increase in New Orders in the manufacture in textile and wearing apparel and food and beverages sectors particularly have influenced the overall improvement of the PMI. Although textile and wearing apparel have received a large number of orders while employment has increased, the production and stock of purchases have remained almost neutral with a marginal contraction during September. With regard to the Services PMI, it reached the growth margin, reporting an index value of 52.2 in September 2021. It is, in fact, following the dip observed in August 2021.  It was observed  that such has taken place due to  the increases in the New Businesses, Backlogs of Work, as well as Expectations for Activity sub-indices. The New Businesses sub-index has increased in comparison to the previous month with the improvements in the sector of transportation that are related to the freight forwarding, financial services, education, and telecommunication sub-sectors. Moreover, the expectations for Business Activities for the next three months increased in September following the lift in travel restrictions along with the fall in domestic Covid-19 cases.


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