Economy News from Sri Lanka: Manufacturing PMI increased to 57.6 index value in October 2019 mainly due to an increase in Production and New Orders compared to September 2019.
The increase in Production and New Orders was observed especially in the manufacturing of food and beverage sector to meet the upcoming festive season demand. Meanwhile, Employment also increased in manufacturing of food & beverages and wearing apparel sectors. This was mainly due to the recruitment of new employees to increase the production levels to meet the higher demand in the period ahead.
Although the New Orders and Production expanded at a higher rate, the Stock of purchases remained broadly unchanged due to accumulated stocks brought forward from previous months.Further, Suppliers’ Delivery Time lengthened at a slightly higher rate.
All sub-indices of PMI Manufacturing exceeded the threshold of 50.0 (neutral) signalling an overall expansion in manufacturing activities during the period under review.
