SL Purchasing Managers’ Index (PMI) – Construction Industry


The construction industry remained contracted in June 2023,
recording a total activity index value of 44.4 with most of the companies operating at a sub-optimal level amidst the limited availability of construction projects.

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However, several respondents mentioned that the steady decline in material prices has induced to commence small-scale construction work.

The lack of new projects continued to hinder the industry, which is
reflected by the continuous decrease in New Orders. The respondents
mentioned that sizable projects are hardly available, except some
foreign-funded projects, and the bidding for available tenders is also
highly competitive. However, they expect the suspended large-scale
projects to gradually recommence later in the year.

Further, Employment remained contracted in June, mainly due to the
layoffs after project completions. Moreover, Quantity of Purchases
declined in line with the decrease in pipeline projects. Meanwhile,
Suppliers’ Delivery Time remained shortened during the month due to
low order quantities.

The industry outlook is positive, mainly due to the gradual recovery in
the economy, the easing of import restrictions and the expected
recommencement of the suspended projects. However, the
respondents highlighted that the downward rigidity of the market
borrowing rates delays the commencement of many private-sector
construction projects.

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