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PMI expands in March

16 Apr 2021

Indicating a strong revival in manufacturing activities in the country, the manufacturing Purchasing Managers’ Index (PMI) reached a nine-month high at 67.0 in March 2021. This was largely attributable to the increases observed in the production, new orders, and stock of purchases sub-indices. The significant increases in the new orders and production sub-indices, particularly in the manufacture of food and beverages and textile and wearing apparel sectors, have mainly contributed to the improvement in the overall index. Many respondents in the manufacture of the food and beverages sector highlighted that they experienced higher levels of sales and production during March 2021 ahead of the New Year festival season.  Further, respondents from the textile and wearing apparel sector mentioned that they increased production during the month to cover up seasonal holidays. Meanwhile, the stock of purchases sub-index increased in line with the expansion in new orders and production. The employment sub-index also expanded at a higher rate.


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