Overall decline in April PMI

Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 42.0 in April 2024, indicating a contraction in manufacturing activities following the seasonal pattern. New Orders, Production, Employment and Stock of Purchases sub-indices declined during the month, resulting in an overall decline in the index.

As per the respondents, the decline in New Orders was mainly due to the end of the festive season’s demand, particularly for food & beverages. Further, the decrease in Production was primarily due to the fewer working days in April, as most factories were temporarily closed for the Sinhala and Tamil New Year holidays. Moreover, Employment and Stock of Purchases decreased during the month, in line with the decline in New Orders and Production. Meanwhile, Suppliers’ Delivery Time further lengthened in April, owing to the extended holidays in the month.