Weekly Economic Indicators - by end of 2nd of November 2017

Economy-SriLanka

Summary of the Weekly Economic Indicators Released by the Central Bank of Sri Lanka for the week end by 2nd of November 2017.

Real Sector

  • The CCPI (2013=100) headline inflation rate accelerated to 7.8% Y-o-Y in October 2017 from 7.1% in September 2017. When monthly change for October 2017 is considered, the CCPI increased by 1.1 index points to 120.8 index points from 119.7 index points in September. This monthly increase was mainly due to the increase in prices of the items in the Food category, along with a monthly increase in Non-food category. CCPI Core inflation, which reflects the underlying inflation in the economy decreased to 5.8 per cent in October 2017 from 6.0 per cent in September 2017. Annual average CCPI Core inflation increased to 6.0 per cent in October 2017 from 5.8 per cent in September 2017.

  • During the week, crude oil prices rose to their highest level since June 2015 on expectations that OPEC-led production cuts would be extended beyond March 2018. Saudi Arabia and Russia have voiced their support for a further extension. However, analysts said that this could encourage the US producers to export more oil. Conversely, at the end of the week crude oil prices declined, although the US crude inventories fell, despite a rise in production. Overall, both Brent and WTI prices rose by US$ 1.0 per barrel and US$ 0.4 per barrel, respectively, within the week.

GDP by Industrial Origin at Constant (2010) Prices – Growth Rates in value added terms

 

Monetary Sector

  • Weekly AWPR for the week ending 02 November 2017 declined by 07 bps to 11.25% compared to the previous week.
  • The reserve money decreased compared to the previous week mainly due to decrease in currency in circulation.
  • The total outstanding market liquidity decreased to a surplus of Rs. 19.76 bn by end of the week, compared to Rs. 17.88 bn by the end of last week.
  • By 02 November 2017, the All Share Price Index (ASPI) increased by 0.13% to 6,621 points and the S&P SL20 Index increased by 0.67% to 3,898 points, compared to the previous week

Share Market (CSE)

 

Government Finance & Outstanding Central Government Debt 

At the end of Q2 in Year 2016 the total of Government Revenue and Grants were 742.3 (Rs.bn) , in 2017 at the end of Q2(a) it has recorded as 877.6 (Rs.bn). At the end of Year 2016 the total outstanding government debt was recorded as 9,387.3 (Rs.bn) and by the end of Q2(a) in year 2017 it is recorded as 10,163.9 (Rs.bn).

 

External Sector

  • During the year up to 02 November 2017 the Sri Lanka rupee depreciated against the US dollar (2.5 per cent). Given the cross currency exchange rate movements, the Sri Lanka rupee depreciated against the pound sterling (9.9 per cent), euro (11.9 per cent), Japanese yen (4.7 per cent) and Indian rupee (7.3 per cent) during this period.

  • India, China, UK, Germany and France were the top five sources of tourist arrivals, accounting for 51.9 per cent of total tourist arrivals upto the month of September 2017.

  • The gross official reserves were estimated at US dollars 7,279.8 million as at 30th September 2017.

Read the full Report : Weekly Economic Indicators

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