• The PMI recorded a value of 42.0, signaling a contraction in the manufacturing sector, driven by declines in New Orders, Production, Employment, and Stock of Purchases sub-indices.

In April 2024, Sri Lanka's Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 42.0, reflecting a contraction in manufacturing activities, following the seasonal pattern. This decline was driven by reductions in the sub-indices for New Orders, Production, Employment, and Stock of Purchases. Respondents attributed the drop in New Orders primarily to the end of the festive season’s demand, especially for food and beverages. The decrease in Production was mainly due to fewer working days in April, as many factories temporarily closed for the Sinhala and Tamil New Year holidays. Consequently, Employment and Stock of Purchases also fell, in line with the declines in New Orders and Production. Additionally, Suppliers’ Delivery Time further lengthened in April due to the extended holidays during the month.

Overall decline in April PMI | The Island