Inflation ( CCPI)50.6% (Feb 2023)
GDP-12.4% (4Q 2022)
Unemployment5.0% (3Q 2022)
3M T-Bill Rate25.99%
12M T-Bill Rate24.31%
5Y T-Bond Rate27.00%/ 27.25%
10Y T-Bond Rate22.00% / 23.00%
USD/LKR335/341
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Reserves $2.22Bn (Feb 2023)
Cum. Trade Deficit $449Mn (Feb 2023)
Cum. Fiscal DeficitLKR 1,601Bn (Nov 2022)

Both Manufacturing and Services activities contracted in February 2023

EconomicsMar 14, 2023
Both Manufacturing and Services activities contracted in February 2023
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Manufacturing PMI recorded an index value of 42.3 in February, indicating a continued setback in manufacturing activities on a month-on-month basis. The services sector PMI dropped to an index value of 48.7 in February 2023 indicating a deterioration across the services sector.

In manufacturing, the decline in New Orders and Production was mainly driven by subdued demand observed in the manufacture of food & beverages, and textile-wearing apparel sectors. The service sector decline was driven by the declines observed in New Businesses, Business Activities, Employment, and Backlogs of Work.

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