Construction sector dips in September

Friday, 1 November 2024 00:28 - - {{hitsCtrl.values.hits}}

The Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction) indicates a decline in construction activities in September 2024, as reflected by the Total Activity Index, which recorded an index value of 48.6.

The compiler of the index, the Central Bank said many survey respondents observed a slight moderation in construction activities during the month, particularly attributable to the election-related disruptions.

New orders recorded an increase in September. Most respondents pointed out the intense market competition, despite the gradual availability of foreign-funded and locally-funded private projects for tenders, affected their financial health.

Employment and Quantity of Purchases decreased in September, mainly due to the slowdown in operations during the month. Meanwhile, Suppliers’ Delivery Time remain lengthened in September.

The expectations for future activities are positive, with the availability of new projects, the CBSL said.