Bangladesh’s economy expands slowly for 11 months in a row: PMI data
Bangladesh’s purchasing managers’ index (PMI) fell by 3.2 points in August this year from July, settling at 58.3, indicating a slower pace of economic growth.
Jointly published by the Metropolitan Chamber of Commerce and Industry Dhaka and Policy Exchange Bangladesh, the latest PMI data showed that the country has maintained 11 months of economic growth in a row, though the agriculture and construction sectors contracted.
Bangladesh’s purchasing managers’ index fell by 3.2 points in August from July, settling at 58.3, indicating a slower pace of growth.
The data showed that the country has maintained 11 months of economic growth in a row.
Employment declined for the third consecutive month at a slower pace.
Manufacturing continued to expand for the 12th month with growth in new orders, exports, production and imports.
Employment declined for the third consecutive month at a slower pace.
The manufacturing sector continued to expand for the 12th month with growth in new orders, exports, production and imports, but employment and order backlogs fell for the third month in a row, domestic media outlets reported.
In terms of business outlook, future expectations weakened across agriculture, manufacturing and construction, while the services sector showed more optimism.
Fibre2Fashion News Desk (DS)
