PMI increases further in July

Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction) increased further in July 2024, recording an index value of 62.9. Most respondents highlighted a steady increase in construction work, spearheaded by projects funded by multilateral agencies.

The outlook for construction activities for the next three months remains positive, mainly due to the gradual increase in project availability.

New orders expanded in July, reflecting a continuous availability of construction projects. Meanwhile, Employment contracted at a slower rate than in June. The Quantity of Purchases increased during the month in line with the increased activity levels. However, several survey respondents reported a short supply of bitumen, which is a key input for road construction work. Many respondents observed a continuation of the declining trend in prices of most construction materials during the month. Meanwhile, Suppliers’ Delivery Time lengthened, yet at a slower rate in July.

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