Purchasing Managers’ Indices indicate expansions in Manufacturing and Services activities in March 2024.

Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 62.5 in March 2024, indicating an expansion in manufacturing activities. This marks the highest PMI-Manufacturing that was recorded in three years. All the sub-indices expanded on a month-on-month basis contributing to this increase, mainly driven by the seasonal demand.

The increase in New Orders and Production was mainly attributable to the manufacture of food & beverages and textiles & apparel sectors. Most of the manufacturers, especially in food & beverage sector, were optimistic about the upcoming festive season. Moreover, Employment and Stock of Purchases increased during the month in line with the New Orders and Production. Further, a decline in price levels was also evident. Meanwhile, Suppliers' Delivery Time remained lengthened, yet at a slower rate in March.