Thursday, 16th September 2021

Manufacturing sector slowed down in December 2019

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.

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