First quarter GDP data delayed

15 July 2020 09:22 am - 0     - {{hitsCtrl.values.hits}}

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  • DCS says more time required to sort out unverified data 

By Nishel Fernando 
Sri Lanka’s Department and Census and Statistics (DCS) says the agency is facing delays in releasing first quarter GDP statistics for the year as it’s still in the process of verifying the data submitted by certain State agencies.  


“We obtain data from 200 odd State agencies. However, some agencies have sent us unverified data. Therefore, we want to get those data verified and confirmed. We are still receiving clarifications from some State agencies,” Department and Census and Statistics (DCS) Director General (DG) Dr. I.R. Bandara told Mirror Business yesterday. 


She noted that operations of some State agencies were disrupted during the lockdown period with limited staff. 


The Central Bank (CB) last week said the DCS is expected to release the first quarter GDP statistics within this week.


“We are trying our best to release it soon once we obtain all the clarifications,” Dr. Bandara stressed. The CB also noted that they may revise the growth forecast for the year after reviewing first quarter GDP statistics.

The CB has forecast 1-1.5 percent economic growth for the year with a strong rebound in economic activities in the second half of the year. However, a contraction is largely expected for the second quarter. 


The government imposed a total lockdown on March 22 to slow the spread of the coronavirus outbreak. It was relaxed gradually from the second week of May.

 

 

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