DHAKA, May 9 (Xinhua) -- The purchasing managers' index (PMI) for Bangladesh dipped to 52.9 in April, an 8.8 point decline from the previous month, signaling a softer pace of economic expansion in the South Asian country.
The April PMI dropped as the manufacturing, construction, and services sectors grew at a slower rate, the Metropolitan Chamber of Commerce and Industry (MCCI) and Policy Exchange Bangladesh (PEB) said in their latest PMI report released on Thursday.
The latest PMI reading was attributed to a slower rate of expansion posted by the sectors of manufacturing, construction, and services, whereas the agriculture sector posted a faster expansion rate.
In terms of the future business index, according to the report, faster expansion rates were recorded for the indexes of manufacturing and construction, whereas the agriculture index posted a slower expansion rate.
"The latest PMI readings indicate continued expansion in all key sectors, but at a slower rate. The April PMI is also the lowest since October 2024 when the expansion track commenced. Long stretches of public holidays leading to closure of businesses, early effect of U.S. tariffs on the production of apparel orders, and energy supply hurdles are likely causes of the slower dynamism," said M Masrur Reaz, chairman and chief executive officer of PEB.
The PMI reading in October 2024 was 55.7.
A PMI reading above 50 indicates growth from the previous month, while one below 50 points to a contraction.
The MCCI and PEB began publishing the PMI in January last year. It covers over 500 private sector firms across agriculture, manufacturing, construction, and services. ■
