Sri Lanka industrial activity up 0.6-pct in Feb

ECONOMYNEXT- Sri Lanka’s industrial sector activity grew 0.6 percent in February 2019 from a year earlier, with a recovery in coke and refined petroleum production, the state statistics office said.

The Index of Industrial Production compiled by the Department of Census and Statistics recorded 104.2 points in February, up from 103.6 points a year earlier.

A value over 100 denotes growth compared to the index base year of 2015.
 
The index, however, recorded a fall of 4.6 percent from a month earlier, mirroring a long-running trend, due to the shorter month, and a major national holiday in February.
 
Food production, which accounts for over a third of all industrial sector activity, fell 9.5 percent in February from a year earlier to 96.5 points.
 
Production in the apparel industry, the leading export and accounting for a fifth of all manufacturing, fell 2.7 percent from a year earlier to 116.1 points.
 
Non-metallic mineral products manufacturing grew 10.2 percent to 114 points while coke and refined petroleum products manufacturing grew 87.1 percent to 106 points, pushing up the index in February.
 
Rubber and plastic product manufacturing, the fifth largest activity accounting for 5.7 percent of the sector, grew 12.2 percent to 121.2 points. (Colombo/Apr12/2019-SB)