Business Report :
Bangladesh’s Purchasing Managers’ Index (PMI)score in November saw an increase of 6.5 points from October to reach 62.2 points indicating expansion of key economic sectors, except construction.
The Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka and Policy Exchange Bangladesh (PEB) successfully released the Bangladesh PMI November report.
The PMI is a pioneering initiative that aims to offer timely and accurateinsights into the country’s economic health to help businesses, investors and policymakers take informed decision, said an MCCI press release here.
It was developed by MCCI and Policy Exchange, with support from the UK government and technical support from Singapore Institute of Purchasing & Materials Management (SIPMM).
According to the November reading, Bangladesh’s PMI increased by 6.5 points from the previous month to record a faster expansion rate at 62.2 points.
This latest PMI reading was attributed to a faster rate of expansion posted by the sectors of agriculture, manufacturing and services but the construction sector reverted to a contraction. The agriculture sector posted a second month of expansion and at a faster rate for the indexes of new business and business activity.
The employment index posted a slower contraction, whereas the order backlogs index posted a faster contraction.
The manufacturing sector posted a third month of expansion and at a faster rate. The sector posted expansion readings for the indexes of new orders, new exports, factory output, input purchases and input prices.
The first-time expansion readings were recorded for the indexes of finished goods, imports, employment and supplier deliveries. The order backlogs index posted a slower contraction rate.
The construction sector reverted to a contraction after posting a marginal expansion in the previous month. The sector posted contraction readings for the indexes of input costs and order backlogs, whereas expansion readings were recorded for the indexes of new business, construction activity and employment.
