The Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction) rebounded in October 2024, recording a Total Activity Index value of 54.3, the Central Bank stated in a media release.
Many respondents said that operations in construction projects regained momentum in October, following the resolution of election-related uncertainties. The New Orders index continued to increase, reflecting the sustained availability of construction work.
Many respondents said that private investors are increasingly showing interest in projects due to favourable market conditions, particularly with the decline in construction material prices.
The Quantity of Purchases index turned positive during the month, aligning with the improved activity levels. However, firms remain cautious in their recruitment strategies, as evidenced by the persistent decline in the Employment index.
Meanwhile, Suppliers’ Delivery Time further lengthened during the month.
