Economy grows faster in July: PMI

The national economy grew stronger in July compared with the month before, according to a survey of officials at private businesses.

According to the survey index, globally known as Purchasing Managers’ Index (PMI), economic activities last month grew by 4.9 points to 57.8, where the 50-mark separates contraction from expansion.

The Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka, and Policy Exchange Bangladesh (PEB) released the survey report on Sunday.

Three of the four major sectors covered by the index – manufacturing, agriculture and services – recorded expansion, while construction saw contraction.

However, with 49.3 points, construction still saw major improvement from June.