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Sri Lanka Economy to Expand 1.5% in 2Q19; Prior +3.5%

Stock Market Sri Lanka

(Bloomberg) — The Sri Lanka economy will expand 1.5% in 2Q, according to the latest results of a Bloomberg News survey of 11 economists conducted from July 2 to July 8.

* GDP 3Q19 +2.1% y/y vs prior +3.6%

* GDP 4Q19 +3% y/y vs prior +3.7%

* GDP 2019 +2.7% y/y vs prior +3.5%

* GDP 2020 +3.8% y/y vs prior +3.8%

* Dimantha Mathew, head of research at First Capital Holdings: “Production and SME business was at a complete standstill for nearly four weeks while sentiment was very weak for a further two weeks before we saw any recovery.”

* CPI 3Q19 +4.3% y/y vs prior +4.7%

* CPI 2019 +4.5% y/y vs prior +4.5%