Sri Lanka's August employment rises as services, manufacturing grow

COLOMBO: Employment in Sri Lanka continued to increase in August as services and manufacturing sectors continued recruiting, according to the latest Sri Lanka Purchasing Managers' Index (PMI) compiled by the Central Bank of Sri Lanka.

The PMI for services recorded an index value of 68.9 in August, indicating an expansion in services activities.

The expansion was supported by strong performance in wholesale and retail trade, other personal services, and accommodation, food and beverage services, which increased amid high tourist arrivals. Business activities related to financial services also continued to improve, driven by an increase in lending activities.

The PMI for manufacturing recorded an index value of 55.2 in August, indicating an expansion in manufacturing activities, albeit at a slower rate compared to the previous month.

Expansions in new orders and production were largely attributed to the performance of the food and beverages manufacturing sector, while the stock of purchases also expanded in line with new orders and production, data shows.

Expectations for manufacturing activities over the next three months remain positive, largely underpinned by anticipated seasonal demand toward the end of the year, PMI data showed.

By RSS/Xinhua