With varied sectoral performances indicating continued economic resilience, Bangladesh's Purchasing Managers' Index (PMI) slightly decreased to 61.7 in December.
Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) released the December PMI report, in collaboration with Policy Exchange Bangladesh (PEB), on 7 January.
It reveals a slight decrease in Bangladesh’s overall PMI score, which now stands at 61.7, a 0.5-point drop from the previous month.
This marginal decline is attributed to a slower rate of expansion in the agriculture and services sectors, while the manufacturing sector experienced a faster expansion rate, and the construction sector returned to an expansionary phase.
Agriculture sector posted a third month of expansion but at a slower rate.
The sector posted a contraction for the new business index and a slower expansion rate for the business activity index.
Employment index reverted to an expansion and the input costs index posted a faster expansion, whereas the order backlogs index posted a slower contraction.
Manufacturing sector posted a fourth month of expansion and at a faster rate.
The sector posted faster expansion readings for the indexes of new orders, new exports, factory output, input purchases, imports, input prices, and supplier deliveries.
The finished goods index posted a slower expansion, whereas the employment index reverted to a contraction.
Order backlogs index posted a faster contraction rate.
The construction sector reverted to an expansion albeit the sector continued to face volatility; the sector posted faster expansion readings for the indexes of new business and construction activity, but slower expansion for the employment index.
Input costs index reverted to an expansion, whereas the order backlogs index posted a slower contraction rate.
The services sector posted a third month of expansion but at a slower rate.
The sector posted a slower expansion rate for the indexes of new business, business activity, and employment. The input costs index posted a first-time contraction, whereas the order backlogs index posted a faster expansion rate.
All key sectors of the economy posted expansion readings even though the headline PMI recorded a slower expansion rate.
The nation continues to face numerous challenges as it struggles towards political stability and economic growth, the report added.
The PMI, developed jointly by MCCI and PEB, benefits from support by the UK Government and technical assistance from the Singapore Institute of Purchasing & Materials Management (SIPMM).
It serves as a crucial tool for providing timely economic insights that aid businesses, investors, and policymakers in making informed decisions.
