Colombo, Jan 17 (BAN/ AD): As per data from Statistics Department of Central Bank manufacturing sector has slowed down while Services sector expanded in December 2019. Manufacturing PMI has index value of 54.3 currently.
A significant slowdown in employment was experienced, particularly in manufacturing of wearing apparel sector as potential employees were attracted to seasonal jobs for better remuneration. Employment increased in manufacturing of food & beverages and wearing apparel sectors.
Services PMI reached a 24-month high to 60.2 index points in December 2019. Transportation of goods recorded a growth with increased transhipment volumes while other personal services such as leisure activities also improved with the holiday season.