Sri Lanka's Manufacturing PMI rose to 56.6 in August 2019 from 55.7 in the previous month, boosted by an increase in production (60.5 vs 57.5) and new orders (61.0 vs 59.0), especially in manufacturing of food & beverages and textiles & wearing apparel sectors to meet the upcoming festive season demand. Meanwhile, the pace of job creation eased (50.5 vs 52.0) and the stock of purchases advanced at a slower rate (55.0 vs 57.0). Suppliers' delivery time lengthened at a slightly higher rate (50.5 vs 50.0), especially from local suppliers. Manufacturing Pmi in Sri Lanka averaged 55.50 from 2015 until 2019, reaching an all time high of 67.30 in May of 2015 and a record low of 41 in April of 2019.
Manufacturing Pmi in Sri Lanka is expected to be 53.80 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing Pmi in Sri Lanka to stand at 54.00 in 12 months time. In the long-term, the Sri Lanka Manufacturing PMI is projected to trend around 58.90 in 2020, according to our econometric models.