The economy is still in contraction mode for three consecutive months now, and far from vibrancy seen in pre-July period, according to the Bangladesh Purchasing Managers’ Index (PMI) report, released on September 7.
The overall reading of PMI also suggests gradual improvement in the economy compared to last month as things normalize, despite some disruptions and challenges facing the country.
Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka and Policy Exchange Bangladesh (PEB) successfully released the Bangladesh Purchasing Managers’ Index (PMI) September report on September 7, 2024.
The PMI is a pioneering initiative that aims to offer timely and accurate insights into the country's economic health to help businesses, investors and policy makers take informed decision.
It was developed by MCCI and Policy Exchange, with support from UK Government and technical support from Singapore Institute of Purchasing & Materials Management (SIPMM).
Bangladesh's overall PMI score in September an increase of 6.2 points from August to reach 49.7
The September reading of the Bangladesh Purchasing Managers’ Index (PMI) increased by 6.2 points from the previous month to 49.7.
This latest PMI reading was attributed to slower contraction readings posted by the sectors of agriculture, construction, and services, whereas the manufacturing sector reverted to an expansion.
The overall reading, suggests gradual improvement in the economy compared to last month as things normalize, despite some disruptions and challenges facing the country.
However, the economy is still in contraction mode for three consecutive months now, and far from vibrancy seen in pre-July period.
The agriculture sector recorded a contraction for the third month but at a slower rate. The sector posted a slower contraction rate for the indexes of new business, business activity, and employment.
The input costs index posted a slower expansion, whereas the order backlogs index posted a faster contraction.
