General · Sri Lanka
Sri Lanka's Construction Sector Sees Slower Growth in August Amidst Bitumen Shortage
Owlester AI · from 1 source ·
Sri Lanka's construction sector experienced a slower pace of growth in August, with the Purchasing Managers' Index (PMI) for the sector recording 59.4, a decrease from 61.4 in July, according to the Central Bank. This deceleration is primarily attributed to a persistent bitumen (tar) shortage, which has significantly hampered road construction projects. Despite these challenges, new orders have increased due to a rise in government-funded projects, and the outlook for the next three months remains positive due to newly awarded projects.