Business growth slows in June: PMI

Business output in the country grew at a slower pace in June from a month earlier, posting 63.9 out of 100 points on the country’s first PMI index launched earlier this year.

June’s PMI figure was down by 6.2 from 70.1 points recorded in May, said a press release issued by Policy Exchange Bangladesh on Sunday.

The data indicates the country’s businesses have not recorded losses for four consecutive months since March.

On the 100-point PMI index, anything below 50 indicates a contraction of business output and anything above means growth.

In June data, all the four pillars of the PMI index, namely agriculture, manufacturing, construction and services, posted slower growth from May figures.

The first data of the country’s maiden PMI index was revealed on 9 May for the month of April.

The Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) and private research organisation Policy Exchange Bangladesh have jointly launched the index this year, with the support of the UK government and Singapore Institute of Purchasing and Materials Management.