Bangladesh PMI slips to 53.5 in March, indicating slower economic growth

The reading of the Bangladesh Purchasing Managers’ Index (PMI) declined by 2.2 points to 53.5 in March compared to the previous month, indicating a slower pace of expansion.

The latest reading released just a few hours back was primarily driven by weaker growth in the agriculture sector, while both the manufacturing and construction sectors recorded contraction.

In contrast, the services sector recorded a slightly stronger expansion.

PMI above 50 indicates the economy is in expansion, while below 50 contraction.

The Policy Exchange Bangladesh and MCCI, Dhaka, jointly developed the PMI for Bangladesh with technical support from a Singaporean institute.

jasimharoon@yahoo.com