COLOMBO: Sri Lanka's manufacturing PMI fell to a neutral level of around 50 in July from a generally expanding level a month ago due to a decline in new orders and production indices, the central bank reported on Monday.
The index, which the Indian ocean island nation's monetary authority started to release from last month, fell to 50.6 in July from 55.1 a month ago, the data showed.
"Overall data points to an expansion in the strength of production and stock of purchases indices while all the other sub-indices remained below the neutral 50.0 threshold," the central bank said in a statement. "Expectations for activities indicated an improvement for the next three months."
The services sector PMI edged up to 57.8 in July from 56.3 a month ago, indicating economic activities continued to expand at a moderate pace in recent months, the central bank said.
Slower rates of expansion were registered for both new businesses and expectation for activity in July compared to June, it said.
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