Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.14%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.60% / 11.70%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Construction activities fell in November to 44.3 (PMI- construction) from previous month 50.0

ConstructionJan 1, 2024
Construction activities fell in November to 44.3 (PMI- construction) from previous month 50.0

Construction PMI recorded a total Activity Index value of 44.3 in November 2023, indicating a contraction in construction activities compared to last month.

It was observed a decline in New Orders at a higher pace , while the present economic crisis has had a negative impact on the employment in the industry as the companies tend to operate with minimum staff.

However, many industrialists in the construction field expect an acceleration in awarding of projects, especially government-funded projects, in the first half of the next year. It is predicted that the industry outlook for the next three months will be positive, mainly in anticipation of the increased demand from the next year, together with favourable weather conditions. However, the firms are concerned about the impact of material price increase due to the recent tax reforms.

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