Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka and Policy Exchange Bangladesh (PEB) successfully released the Bangladesh Purchasing Managers’ Index (PMI) September report on October 7, 2024.
The PMI is a pioneering initiative that aims to offer timely and accurate insights into the country's economic health to help businesses, investors and policy makers take informed decision.
It was developed by MCCI and Policy Exchange, with support from UK Government and technical support from Singapore Institute of Purchasing & Materials Management (SIPMM).
Bangladesh's overall PMI score in October saw an increase of 6.0 points from September to reach 55.7
The OCTOBER reading of the Bangladesh Purchasing Managers’ Index (PMI) increased by 6.0 points from the previous month to revert to an expansion at 55.7, after recording 3 months of consecutive contractions. The latest PMI readings provide early indications of a return to expansion track for the Bangladesh economy with agriculture, construction, and service sector posting expansion for the first time in months, whereas the manufacturing sector posted a faster rate of expansion. The agriculture sector reverted to an expansion after recording 3 months of consecutive contractions. The sector posted a first-time expansion for the indexes of new business and business activity, whereas the employment posted a faster contraction. The input costs index posted a faster expansion, whereas the order backlogs index posted a slower contraction.
The manufacturing sector posted a faster rate of expansion. The sector posted expansion readings for the indexes of new orders, new exports, factory output, input purchases, and input prices.
Contraction readings were recorded for the indexes of finished goods, imports, employment, supplier deliveries, and order backlogs. The construction sector reverted to a marginal expansion after recording 3 months of consecutive contractions.
The sector posted slower contraction readings for the indexes of construction activity, employment, order backlogs, but the new business index reverted to a marginal contraction. The input costs index posted a faster rate of expansion.
The services sector reverted to an expansion after recording 3 months of consecutive contractions. The sector posted a first-time expansion for the indexes of business activity and order backlogs.
