FINANCIAL CHRONICLE – In August 2026, Sri Lanka’s services sector demonstrated notable growth, as indicated by the Purchasing Managers Index (PMI) released by the central bank. The PMI recorded a value of 65.6, marking an increase from 61.4 in the previous month.
The Central Bank of Sri Lanka (CBSL) noted that business activity in August accelerated, driven by positive developments across various sectors. Key factors contributing to this growth included robust performances in transportation, wholesale and retail trade, as well as professional services. Additionally, the financial and personal services sectors also played a significant role in this expansion.
New business formations rose in August, with the index reflecting a value of 60.0, slightly down from July’s 60.2. This increase was largely influenced by growth in the wholesale and retail trade, alongside financial and other personal services. The professional services sector also had a favorable impact on this upward trend.
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Employment levels saw an uptick in August, driven by a wave of new hiring. Furthermore, the amount of work backlogged decreased during the month, reversing the upward trend noted in the previous period.
However, CBSL cautioned that ongoing global economic uncertainties continue to present potential risks to future growth prospects. (Colombo/Sep17/2026)
