The Manufacturing PMI in Sri Lanka fell to 50.6 in February 2019 from 54.4 in the previous month, signaling the weakest pace of expansion in the manufacturing sector since a contraction was recorded last April. There were declines in output (48.0 vs 55.5 in January) and new orders (48.5 vs 54.0), while growth slowed for stock of purchases (54.0 vs 55.5) and suppliers' delivery time (53.5 vs 55.0). By contrast, the rate of job creation accelerated (53.0 vs 52.5). Manufacturing Pmi in Sri Lanka averaged 55.68 from 2015 until 2019, reaching an all time high of 67.30 in May of 2015 and a record low of 41.60 in April of 2016.
Manufacturing Pmi in Sri Lanka is expected to be 51.20 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 57.70 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.