Bangladesh's May PMI up 6 points to 58.9

The latest reading was attributed to a faster rate of expansion posted by the agriculture, manufacturing and services sectors, whereas the construction sector posted no change.

Both the indexes of new business and employment reverted to a contraction, whereas the order backlogs index reverted to an expansion.

The agriculture sector posted its eighth consecutive month of expansion, and at a faster rate. It posted faster expansion rates for the indexes of new business, business activity, employment, input costs, and the order backlogs index reverted to an expansion.

The manufacturing sector posted its ninth month of expansion in a row, and at a faster rate. It posted expansion readings for most indexes except for the order backlogs index, which posted a slower contraction rate and had recorded contractions for 10 consecutive months.

In terms of the future business index, slower expansion rates were recorded for the indexes of manufacturing, construction, and services, whereas the agriculture index posted a faster expansion rate, domestic media outlets reported.

The Metropolitan Chamber of Commerce and Industry Dhaka and Policy Exchange Bangladesh released the PMI report. It was developed by both with support from the UK government and technical support from Singapore Institute of Purchasing and Materials Management.

ALCHEMPro News Desk (DS)