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Sri Lanka Purchasing Managers’ Index - October 2020

Purchasing Managers' Indices for both Manufacturing and Services activities contracted in October 2020.

Manufacturing activities indicate subdued performance in October 2020 due to adverse impacts of the second wave of COVID-19 pandemic erupted in the country in early October. Accordingly, manufacturing PMI declined to 40.3 in October 2020 with a significant decline in Production, New Orders, Employment, and Stock of Purchases sub-indices, particularly in the manufacturing of wearing apparel and food & beverages sectors.

NCPI based Inflation decreased in October 2020

Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) decreased to 5.5 per cent in October 2020 from 6.4 per cent in September 2020. This was due to the statistical effect of the high base prevailed in October 2019. Meanwhile, Food inflation (Y-o-Y) decreased to 10.6 per cent in October 2020 from 12.7 per cent in September 2020, whereas Non-food inflation (Y-o-Y) increased marginally to 1.5 per cent in October 2020 from 1.4 per cent in September 2020.

Uninterrupted Operations of the Central Bank of Sri Lanka to Continue

The Central Bank of Sri Lanka wishes to inform the public that one of its employees was tested positive for COVID-19 on 19 November 2020. The employee is now under medical care.

Acting swiftly following this incident, the Central Bank implemented all necessary measures to prevent contagion, including rigorous sanitisation and disinfection of its Head Office premises, tracing close contacts and arranging PCR testing for possible contacts. All other employees tested were found to be negative for the virus. As a precautionary measure, senior management of the Bank, who functioned physically from the Bank premises thus far, also decided to work from home for a period of two weeks commencing 20 November 2020.

The Central Bank follows stringent infection prevention guidelines to protect its staff and the visiting public, as the Bank considers ensuring their safety as a top priority.

Issuance of Sri Lanka Development Bonds (SLDBs)

Sri Lanka Development Bonds (SLDBs) are offered by the Government of Sri Lanka and denominated in United States Dollars (USD). The most recent SLDB auction heldfrom 10-13 November 2020 with settlement on 18.11.2020 enabled to raise USD 24.82 million. At the said auction,maturities offered varied from 1 year 2 months to 4 years 2 monthsand offered at a fixed rateof 6.69 per cent to 6.82 per cent.