Sri Lanka’s services and manufacturing sectors demonstrated impressive growth in March, signaling a robust recovery in economic activities. The Services Sector PMI surged to 69 index points from 56.5 in February, while the Manufacturing Sector PMI climbed to 63.9 from 56.8, reflecting expansion across key industries.
Key Highlights:
-
- The services sector experienced significant growth in business activities, driven by increased demand in wholesale and retail trade, financial services, and tourism-related industries
-
- Manufacturing saw a rise in production and new orders, supported by improved domestic and export demand
-
- Employment levels in both sectors showed positive trends, contributing to overall economic recovery
-
- Supplier delivery times lengthened slightly, indicating heightened activity in supply chains
These PMI figures underscore Sri Lanka’s resilience and potential for sustained economic growth, positioning the country as a dynamic player in the regional market.
Sources: Central Bank of Sri Lanka, Business Standard, MSN News