Sri Lanka industrial production up 2.2-pct in June

Sept 26, 2009 (LBO) – Sri Lanka’s private sector industrial production rose 2.2 percent in in June 2009, from a year earlier, with food, wood products showing an upturn and apparels bottoming out, official data showed. Rubber goods production was down 3.2 percent.

Cement was up 1.6 percent (down 14.1 percent in May) and building materials down 2.5 percent.

In the six months from January to June industrial production was up 1.9 percent.

Sri Lanka’s economic growth was reported at 2.1 percent in the second quarter.

Authorities expect second quarter growth to be stronger. The International Monetary Fund said it was upping its full year forecast for the island to 3.5 percent from an earlier 3.0 percent.

In May private sector industrial production fell 2.5 percent and in April 5.6 percent a private sector industrial production index released by Sri Lanka’s central bank showed.

Apparel production volumes fell 1.2 percent in June (against 19.3 percent in May), textiles 2.2 percent (against 16.7 percent in May).

But leather good production was up 2.7 percent (against a fall of 19.4 percent in May.

Separately released data for June showed industrial exports were down 13.5 percent