The Sri Lanka Manufacturing PMI plunged 25.9 points to a record low of 41.0 in April 2019 from the previous month's near all-time high of 66.9. The steep contraction in manufacturing output was mainly due to the New Year holidays in April and the security concerns that arose following the Easter Sunday attack. Declines were seen in new orders (37.5 vs 75.8 in March), production (32.5 vs 74.2), employment (43.5 vs 57.1), and stocks of purchases (41.0 vs 64.6). Manufacturing Pmi in Sri Lanka averaged 55.61 from 2015 until 2019, reaching an all time high of 67.30 in May of 2015 and a record low of 41 in April of 2019.
Manufacturing Pmi in Sri Lanka is expected to be 48.70 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing Pmi in Sri Lanka to stand at 54.00 in 12 months time. In the long-term, the Sri Lanka Manufacturing PMI is projected to trend around 58.90 in 2020, according to our econometric models.