Bangladesh's manufacturing sector sees robust growth in April

Business growth in the country fell to 62.2 points in April from 64.3 in March.

The country’s economy slowed in April as important sectors like services and construction slowed, but rapid and robust growth of the agriculture and manufacturing sectors offset much of this loss, the data showed.

The agriculture sector had a PMI of 55.7 in March, which increased to 60.9 in April, and the manufacturing sector's index was 68.4 in March, increasing to 74.5 in April.

MCCI released the PMI data for the first time in the country in partnership with Policy Exchange Bangladesh (PEB) and with support from the UK's Foreign, Commonwealth, and Development Office (FCDO). The PMI data will be published on the 7th of every month.

Despite falling slightly from the previous month, the economy remains on the expansion track in the new quarter, domestic media outlets reported.

The data showed a swifter expansion rate for indexes like new business, business activity and input costs, but a slower expansion rate for the order backlog index.

The manufacturing sector posted a faster expansion rate across various indexes, including new orders, new exports, factory output, input purchases, and supplier deliveries.

Fibre2Fashion News Desk (DS)