PMI Shows Continued Expansion Despite November Slowdown

Sri Lanka’s manufacturing and services sectors remained in expansionary territory in November, though growth moderated from October, according to the Central Bank of Sri Lanka’s Purchasing Managers’ Index.

The Manufacturing PMI stood at 55.5 in November, down from 61 in October, reflecting slower but broad-based expansion. New orders increased, driven mainly by food and beverages and textiles and apparel manufacturing, while employment and stocks of purchases also rose.

The Services PMI eased sharply to 50.5 from 66, indicating marginal growth. Adverse weather conditions impacted business activity, particularly in tourism-related services, although accommodation, food and beverage services and financial services continued to expand.

CBSL said new business activity and employment increased in November, while expectations for the next quarter remain positive, supported by favourable macroeconomic conditions and anticipated festive demand, despite concerns over weather-related disruptions.

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