Manufacturing and services activities expand in October at slower pace

Sri Lanka’s manufacturing and services sectors expanded in October, albeit at a slower pace, according to the latest data released by the Central Bank, The manufacturing sector PMI recorded 54.8 in October, which is a decrease of 4.2 index points compared to September 2017.

The Central Bank said the slowdown was mainly driven by the New Orders and Employment sub-indices, which moderated from the levels of increase observed in the previous month. The services sector PMI recorded 55.3 index points in October, from 57 index points in September 2017, indicating a slower pace compared to the previous month.

However, a PMI value above a 50 point mark indicates an expansion in activities.