Sri Lanka’s Services PMI Dips in September After August Surge, Manufacturing Sector Holds Steady

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Sri Lanka’s September Purchasing Managers’ Index (PMI) showed a cooling in services activity to 58.7 points from a strong 68.9 in August, while manufacturing PMI edged up slightly to 55.4 from 55.2. The data highlights a moderation in services growth but ongoing expansion in manufacturing amid resilient economic conditions.

Sri Lanka’s economic momentum in September 2025 was marked by contrasting trends in the services and manufacturing sectors according to data released by the Central Bank of Sri Lanka. The services sector PMI fell to 58.7 index points, retreating from the robust 68.9 points recorded in August. Despite the decline, the services PMI remains well above the 50-point expansion threshold, signaling continued growth, albeit at a slower pace.

In contrast, the manufacturing sector PMI showed a mild improvement, rising to 55.4 points in September from 55.2 in August. This steady increase suggests that manufacturing activities continue to expand steadily, supported by sectors such as food and beverage production, textiles, and apparel manufacturing.

The dip in the services PMI points to softer business activity across components such as wholesale and retail trade, personal services, accommodation, and financial services, potentially reflecting fluctuating tourist arrivals or seasonal demand shifts. However, the sector's expansion remains underpinned by ongoing hiring and investments in service-oriented businesses.

These sectoral PMI figures together provide a nuanced picture of Sri Lanka’s economic trajectory, reflecting resilience amid ongoing global uncertainties and domestic supply chain adjustments. Business confidence for the near term remains cautiously optimistic, with expectations of increased activity toward the end of the year due to seasonal demand and policy support.

Notable Updates

Services PMI: Declined to 58.7 in September from 68.9 in August but remains strongly above expansion territory.
Manufacturing PMI: Increased slightly to 55.4 in September, maintaining steady production and new orders growth.
Sector performance: Services slowdown contrasts with sustained manufacturing sector momentum, driven by food, beverage, and apparel industries.
Economic outlook: Both sectors anticipate positive growth moving into the final quarter, supported by seasonal and policy factors.
Business activity: Continued hiring and inventory rebuilding support economic stabilization across segments.
Tourism impact: Services growth sensitive to changes in tourist arrivals affecting accommodation and leisure services.

Sources: Central Bank of Sri Lanka; Trading Economics; Xinhua News; Ambeon Securities.

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