Key economic sectors in Bangladesh expand in Nov: PMI data

The PMI rose by 6.5 points to 62.2 in November compared to 55.7 in October and 49.7 in September.

The Bangladesh PMI was developed this year by the Metropolitan Chamber of Commerce and Industry (MCCI) and Policy Exchange Bangladesh, in collaboration with the Singapore Institute of Purchasing and Materials Management (SIPMM) and supported by the UK International Development.

“Despite the positive outlook, the economy continues to face challenges arising from various political uncertainties and disruptions caused by industrial and other protests,” domestic media outlets reported quoting an official release.

The November PMI reading reflects a faster rate of expansion across the agriculture, manufacturing, and services sectors, although the construction sector witnessed contraction.

While the employment index showed a slower contraction, the order backlogs index contracted at a faster pace.

The manufacturing sector marked its third consecutive month of expansion, with growth in indexes for new orders, new exports, factory output, input purchases and input prices.

The first-time expansion readings were observed for indexes of finished goods, imports, employment, and supplier deliveries. Meanwhile, the order backlogs index contracted at a slower rate.

ALCHEMPro News Desk (DS)