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Sri Lanka Purchasing Managers’ Index Survey - August 2016

The Manufacturing Sector PMI increased to 53.5 in August which is an increase of 2.9 index points from 50.6 in July 2016. The increase in August was fuelled by the improvements observed in New Orders, Employment and Production Indices. All the sub-indices of manufacturing sector PMI, apart from stock of purchases which was unchanged, increased compared to the previous month. Notably, New Orders, Employment and Suppliers’ Delivery Time indices recovered from the contraction observed in July. Overall data points to an expansion where all the sub-indices are above the neutral 50.0 threshold. The expectations for activities indicate an improvement for the next three months.

Release of 'A Step by Step Guide to Doing Business in Sri Lanka' and 'Sri Lanka Socio-Economic Data – 2016' Publications

The sixth edition of “A Step by Step Guide to Doing Business in Sri Lanka” has been now published by the Central Bank of Sri Lanka (CBSL). This publication contains useful regulatory information on starting, operating and closing a business enterprise in Sri Lanka. As proposed by the relevant institutions, the necessary amendments up to the first quarter of 2016 are incorporated into this edition.

This is a useful source document with all information in one place for the business community and foreign investors and will assist by reducing the search costs, time and inconvenience in accessing such information.

The Central Bank Further Strengthens Resolution Measures on Finance Companies

The Central Bank has observed certain erroneous news items published in few newspapers raising concerns over financial problems confronted by a few licensed finance companies. Therefore, the Central Bank wishes to clarify facts behind the inaccuracy of such news in the public interest.

External Sector Performance - June 2016

Sri Lanka’s external sector performance remained moderate in June 2016 with a widening trade deficit and relatively low growth in workers’ remittances and tourist earnings. The trade deficit which showed gradual improvements in the first four months of the year deteriorated in May and June with weak performance in both exports and imports. Earnings from tourism recorded a low growth in June compared to previous months of the year while growth in workers’ remittances also moderated. However, inflows to the financial account elevated with the receipts of the first tranche of the IMF Extended Fund Facility (IMF-EFF) and a syndicated loan facility. As a result of these inflows to the financial account and developments in the global economy with further rate hikes by the United States Federal Reserve still to materialise, foreign investments in the government securities market rebounded. This resulted in a net inflow of foreign investments in Government securities in June 2016 compared to continuous outflows experienced during the first quarter of the year.