Inflation ( CCPI)0.9% (March 2024)
GDP4.5% (4Q 2023)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.90%
12M T-Bill Rate10.21%
2Y T-Bond Rate10.85%/ 11.00%
4Y T-Bond Rate12.10% / 12.20%
Reserves $4.951Bn (March 2024)
Cum. Trade Deficit $860 Mn (Feb 2024 cumulative)
Cum. Fiscal DeficitLKR 2,020 Bn (Nov 2023)

Both PMI indexes fell at the start of 2023 from last month

EconomicsFeb 16, 2023
Both PMI indexes fell at the start of 2023 from last month

Manufacturing PMI signals a continued setback in January 2023. Accordingly, the index fell to 40.8, driven by the decrease in all the sub-indices, except Suppliers’ Delivery Time. Services PMI recorded an index value of 50.2, remaining slightly above the threshold level.

The decline in New Orders and Production was mainly attributable to the subdued demand condition observed, particularly in the manufacture of food & beverages, and textiles & wearing apparel sectors.

Service PMI is narrowly above the 50 level underpinned by the improvements observed in New Businesses, Business Activities and Expectations for Activity. New Businesses improved at a faster pace in January 2023 compared to December 2022, particularly with the increases observed in financial services, education, and real estate sub-sectors.


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