Construction sector index value stuck at same level in December

Saturday, 1 February 2025 00:36 - - {{hitsCtrl.values.hits}}

The Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction), indicates an expansion in construction activities in December 2024, as reflected by the total activity index which recorded an index value of 51.4, its compiler the Central Bank said.

However in November too, the index value was at 51.4.

CBSL said many respondents highlighted the need for more large-scale construction projects to sustain the industry growth.

New orders increased at a neutral threshold, indicating that the number of construction projects approved in December remained at a similar level as in the previous month.

Meanwhile, the employment index continued to contract, yet at a slower pace in December. The Quantity of Purchases index increased, in line with the expansion in construction work.

Suppliers’ delivery time remained lengthened during the month.

The industry outlook for construction activities for the next three months is positive, mainly supported by the expected favourable weather conditions. However, the firms are looking forward to the Government’s infrastructure plans through the upcoming Budget.