A reading above 50 indicates expansion, while a reading below 50 indicates contraction.
Manufacturing recorded its fifteenth month of expansion in a row, but growth moderated. The sector maintained expansionary readings in new orders, exports, factory output, input purchases, finished goods, imports, input prices, employment and supplier deliveries. However, order backlogs contracted more sharply, highlighting pressure on capacity.
Agriculture posted its third consecutive month of expansion, though momentum eased. New business, employment, and input costs grew at slower rates, while business activity accelerated. Order backlogs in agriculture contracted at a slower pace, suggesting some resilience in demand.
November's PMI highlights "economic expansion losing steam, driven by weak global demand and low export competitiveness hurting exports, waning domestic demand, and businesses withholding investments ahead of the national elections," M Masrur Reaz, chairman and chief executive officer of PEB, was cited as saying by domestic media outlets.
Despite a yearly decline in exports, MoM increases and continued agricultural harvests helped sustain overall expansion, he noted.
The PMI report is released by the Metropolitan Chamber of Commerce and Industry, Dhaka, (MCCI) and Policy Exchange Bangladesh (PEB).
ALCHEMPro News Desk (DS)
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