DHAKA, July 8 (Xinhua) -- The Purchasing Managers' Index (PMI) in Bangladesh dipped to 52.9 in June, down 9.9 points from May, signaling a softer pace of economic expansion in the South Asian country.
According to the latest report released on Tuesday, the moderation in growth reflected mixed sectoral performance, with the manufacturing and construction sectors returning to contraction, while the agriculture and services sectors continued to expand, albeit at a slower pace.
A PMI reading above 50 indicates expansion from the previous month, while one below 50 signals contraction.
The PMI, jointly prepared by the Metropolitan Chamber of Commerce and Industry and Policy Exchange Bangladesh, covers more than 500 private sector firms across agriculture, manufacturing, construction, and services.
Although the June figure was still above 50, pointing to overall expansion, the pace of growth slowed.
"The June PMI suggests Bangladesh's economy remained in expansion, but with clear sectoral divergence. Agriculture and services continued to grow more slowly, while manufacturing returned to contraction on weaker orders, exports, employment, and supplier deliveries. Construction also contracted amid softer activity and new business. Long Eid holidays, the onset of monsoon, and fading pre-Eid demand weighed on June conditions," said M Masrur Reaz, chairman and chief executive officer of Policy Exchange Bangladesh, in a statement. ■