The June reading of the Bangladesh Purchasing Managers' Index (PMI) declined by 6.2 points from 70.1 in May to record a slower expansion at 63.9, due to a slower expansion rate in all key sectors of agriculture, manufacturing, construction, and services.
All key sectors of the Bangladesh economy expanded at a slower rate, according to the June PMI report. The continuous congestion at Chattogram Port hasalso increased upward pressure on freight costs and delayed the delivery of shipments.
This was further aggravated by the Eid-ul-Azha holidays as well as the negative weather conditions, according toa press release issued by the Metropolitan Chamber of Commerce and Industry (MCCI) on Sunday.
The agriculture sector recorded the sixth month of expansion after having posted a contraction reading in December last year. The sector posted a slower expansion rate for the indexes of new business, business activity, employment and input costs, but the order backlog index posted a faster expansion rate.
The employment index posted a third month of expansion, it said.
The manufacturing sector posted a slower expansion rate for the key indexes of new orders, new exports, factory output, input purchases, employment, and supplier deliveries.
Slower expansion rates were also recorded for the indexes of imports and input prices, whereas the order backlog index posted a faster expansion rate. The finished goods index reverted to a contraction after posting three months of expansion readings.
The construction sector posted a slower expansion rate for the indexes of new business, construction activity, employment and input costs. The order backlog index posted a third month of contraction.
The services sector posted a slower expansion rate for the indexes of new business and business activity, whereas faster expansion rates were recorded for the indexes of employment and input costs.
The order backlog index posted a slower contraction, and the order backlog index had posted six months of consecutive contractions.
In terms of the future business index, slower expansion rates were recorded for all key sectors of agriculture, manufacturing, construction and services.
