PMI reaches 59.5 in June

Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction) reached 59.5 in June 2024, recording its highest index value in 30 consecutive survey rounds. Most of the respondents highlighted that the industry is mainly driven by projects funded by multilateral agencies, particularly related to road rehabilitation and water distribution.

New orders increased at a higher rate in June, indicating a positive outlook for future industry activity. However, Employment remained contracted during the month, yet at a slower rate compared to the previous month. Meanwhile, the Quantity of Purchases increased with the accelerated demand for input materials. Further, many respondents mentioned that the price levels of most of the construction materials are in a declining trend. Meanwhile, Suppliers’ Delivery Time further lengthened in June.

The expectations for construction activities for the upcoming three months remain positive due to the gradual increase in project availability. However, many firms are cautious about the potential uncertainty associated with the upcoming election period.

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