ECONOMYNEXT – Sri Lanka’s manufacturing and service sectors continued to expand in July registering index values over 50 in July 2024, with new hires seen in the apparel sector, according to a Purchasing Managers Index compiled by the central bank.
The Manufacturing PMI was 59.5 in July, after recording 56.6 in June with new orders seen in apparel and growth on manufacture of food and beverages, textile and apparel.
“Employment turned positive in July, which was mainly attributable to the manufacture of textiles & apparel sector,” the statement said.
“Stock of Purchases also expanded in line with the increased demand for materials.”
The Services PMI recorded 71.1 in July after a 63.5 points in June.
“Business activities in the transportation services grew mainly due to improvements observed in freight and aviation sectors,” the statement said.
“Further, business activities in the wholesale and retail trade and other personal services also experienced a considerable growth during the month.
“Moreover, business activities in the accommodation, food, and beverage services, which had shown a subdued performance in previous months, experienced an improvement during the month due to the increase in tourist arrivals.”
- https://economynext.com/sri-lanka-apparel-sector-hiring-upturn-in-services-pmi-177195/
