PMI for Construction Industry up in November 2024

Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction) expanded, albeit at a slower pace in November 2024, recording a Total Activity Index value of 51.4.

Several respondents mentioned that the severe weather conditions that prevailed during the month somewhat disrupted their scheduled work. Many survey respondents highlighted a slowdown in the tender evaluation process of construction projects towards the end of the year, leading to a decline in the New Orders index in November.

Firms remain cautious about expanding their workforce, as reflected by the continuous decline in the Employment index. The Quantity of Purchases index was recorded at the neutral threshold in November, indicating that the material purchases stayed at a similar level as in the previous month. Meanwhile, Suppliers’ Delivery Time lengthened in November.

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