The February reading of the Purchasing Managers' Index (PMI) increased by 1.8 points from the previous month to 55.7, indicating a faster pace of expansion.
The latest reading reflects stronger growth in the agriculture, manufacturing, and services sectors while the construction sector returned to contraction.
The Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka and Policy Exchange Bangladesh (PEB) successfully released the Bangladesh Purchasing Managers' Index (PMI) February report on Sunday, says a press release.
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 make informed decisions. It was developed by MCCI and Policy Exchange, with support from the UK Government and technical support from Singapore Institute of Purchasing and Materials Management (SIPMM).
The agriculture sector recorded its sixth consecutive month of expansion, and at a faster rate. The indexes of new business and business activity recorded a faster pace of expansion, while the indexes of input costs and order backlogs returned to expansion. However, the employment index continued to contract, and at a faster pace, said a press release.
The manufacturing sector remained in expansion for the 18th consecutive month, with growth accelerating during the month.
Continued expansion was recorded across key indicators, including new orders, factory output, imports, input prices, and supplier deliveries.
However, the indexes of new exports, finished goods, and employment remained in contraction, while the input purchases returned to expansion. The order backlogs index reverted to contraction during the month.
The construction sector returned to contraction after registering expansion in the previous month. The sector registered contraction in the indexes of new business, employment and order backlogs, while the indexes of construction activity and input costs recorded expansion.
