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Sri Lanka Purchasing Managers’ Index (Manufacturing and Services) - September 2024

Purchasing Managers’ Indices indicate expansions in both Manufacturing and Services activities in September 2024

Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 54.1 in September 2024. This indicates a continued expansion in manufacturing activities, albeit at a decelerated pace relative to the previous month. All sub-indices, except for Employment, remained above the neutral threshold during the month.

The Central Bank of Sri Lanka Releases the Financial Stability Review for the Year 2024

In terms of Section 70(1) of the Central Bank of Sri Lanka Act, No. 16 of 2023, the Central Bank of Sri Lanka released its annual Financial Stability Review (FSR) for 2024. This statutory report provides an assessment of the stability of the financial system, identifies and evaluates the associated risks and vulnerabilities, and outlines the policy measures implemented by the Central Bank and other regulatory authorities.

Strengthening Corporate Governance Practices in Licensed Banks

The Central Bank of Sri Lanka (CBSL) wishes to announce the issuance of the Banking Act Directions No. 05 of 2024 on Corporate Governance for Licensed Banks on 30.09.2024. These Directions were issued with a view to strengthening the corporate governance processes and practices of the licensed commercial banks and licensed specialised banks (hereinafter referred to as licensed banks), thus facilitating the conduct of banking business in a responsible and accountable manner in order to promote safety and soundness of the banking sector and the financial system as a whole.

CCPI based headline inflation dipped into the negative territory in September 2024

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) entered into negative teritory, recording a deflation of 0.5% in September 2024, for the first time since September 2015.

External Sector Performance August 2024

The external sector continued the positive momentum in August 2024 with robust inflows of workers' remittances and a notable increase in exports, despite a slowdown in tourist earnings compared to the previous month.

SL Purchasing Managers’ Index (PMI) for Construction Industry – August 2024

Sri Lanka Purchasing Managers’ Index for Construction (PMI - Construction) expanded at a slower pace in August 2024 over the significantly higher level reached in the previous month, recording an index value of 51.4. Further, most of the other indices were also around the neutral threshold, indicating that the operations of the construction industry broadly remained unchanged compared to the previous month.

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