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Construction Sector faces September slowdown amidst election disruptions

written by MIAP Source

By: Isuru Parakrama

October 31, Colombo (LNW): Sri Lanka’s Purchasing Managers’ Index (PMI) for Construction recorded a decline in sector activity during September 2024, with the Total Activity Index falling to 48.6.

This drop, attributed largely to disruptions related to the national election, highlights a slight moderation in construction activities for the month.

The Central Bank of Sri Lanka (CBSL) noted that while new orders saw a rise in September, this was not enough to offset challenges faced by the sector.

Respondents cited intensified market competition and increased financial strain, despite a gradual resurgence of both foreign-funded and domestic private projects being opened for tenders.

Additional factors impacting the sector included a reduction in employment and purchase quantities, reflecting the operational slowdown as many construction firms adjusted to the month’s interruptions.

Meanwhile, supplier delivery times also remained prolonged, adding further constraints to an already impacted supply chain.

Construction Sector faces September slowdown amidst election disruptions
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written by MIAP Source

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