Sri Lanka Purchasing Managers’ Index (Construction) - December 2023

Construction PMI, as reflected by the Total Activity Index value of 48.6 in December 2023, indicated a slower contraction in construction activities compared to last month. The respondents mentioned that the limited availability of project work continued to hamper the activity levels.

New Orders declined in December, broadly at a similar pace compared to the previous month. Many respondents mentioned that currently they are heavily relying on foreign-funded projects. Meanwhile, Employment contracted mainly due to the layoffs in line with the project completions. Further, Quantity of Purchases remaind contracted during the month since the ongoing work and the upcoming projects continued to decline. In the meantime, Suppliers’ Delivery Time remained lengthened in Decemeber.

With the lack of upcoming projects and the impact of tax revisions on price levels, the industry outlook for the next three months is on the downside.


Published Date: 

Wednesday, January 31, 2024