Bangladesh’s purchasing managers’ index (PMI) was 61.8 in October this year—gaining 2.7 points month on month (MoM) and posting a faster expansion rate.
It was attributed to a faster expansion rate for all key sectors—agriculture, manufacturing, construction and services.
The agriculture sector posted its second month of expansion in a row.
The manufacturing sector posted its fourteenth consecutive month of expansion. It saw expansions in indices for new orders, new exports, factory output, input purchases, finished goods, imports, input prices, employment and supplier deliveries. However, the order backlogs index posted a faster contraction rate.
In terms of the future business index, slower expansion rates were recorded for all the four sectors.
The PMI reading indicates that the overall economy continued to expand, primarily driven by favourable crop conditions and expectations of a good harvest in the agricultural sector, according to domestic media reports.
News Courtesy : Fibre2Fashion