Manufacturing suffers seasonal dip, services sector growth slows in April

CBSL says PMI survey points to optimistic outlook for next three months

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THE Purchasing Managers' Indices in April have reflected the seasonal contraction in Manufacturing activities and an expansion in Services activities, though lower than in March.

Following the seasonal pattern, the Sri Lanka Purchasing Managers' Index for Manufacturing (PMI Manufacturing) declined to 40.1 in April. The key sub-indices of Production, New Orders, Stock of Purchases, and Employment contracted during the month, resulting in an overall decline in the index compared to the seasonal peak in March.