Like the second month drawn, the economy of the country has decreased. In March, the country's business and economy's speed indicator pending managers' Index (PMI) index stands at 9.5, which is 2.7 points less than February. In February, the index was 5.75 points, which is 5.7 points lower than January. In January this year, the PMI's overall score was 5.7.
In July 2021, the quota reform movement and subsequent circumstances went into the country's economy. In October, it returned to the expansion. Although the speed increased in November, the expansion of the expansion slowed down in December. In January, speed increases a bit. Then in February it was reduced again.
The PMI index is measured between zero and 5. If the value of the index is more than 5, the expansion of the economy and the contraction below 5. And if the value is 5, you should understand that the relevant sector has not changed that month. In July last year, the PMI value fell to 5.7 points. In August, it rose slightly to 9.5 points. And in October, he came to 9.5 points. Since then the economy has been in the stream of expansion.
The Metropolitan Chamber of Commerce Industry (MCCI) and Research Institutes, an old organization of businessmen and entrepreneurs, have been jointly formulating PMI for a year, which provides accurate and timely analysis of the country's economic conditions, so that business, investors and policy makers can make information. The index is formulated with the four major sectors of the country's economy. The four sectors are production, agriculture, construction and services.
The index of March shows that agriculture, production and construction among the four sectors – the three are slow. The slower expansion of the agriculture, production and construction sectors is responsible for this reduction, although the rapid expansion of the service sector has been noticed.
Agricultural sector: Although the expansion continued for six months, the speed has taken a big push in March. In February, the index was 5.75, which came down in March to 9.2.
Production sector: Despite the expansion for seven months, the speed has diminished. In February, the index was 12.75, and in March it fell to 5.75. The tendency to contraction is especially evident in the order backlog and employment index.
Construction sector: The expansion has been in the stream for four months. The index dropped from 9.5 to March to 9.5, in February. Although the construction program and the backlog index are negative trends, the employment index is a bit positive.
Service sector: The only sector has been expanding for six months and this is the only sector, where the expansion of March has increased. The February 9th from 9.5 to March 8, increased to 12.75. The main reason for this is the increase in retail trade around the Eid festival.
Business activities and employment indicators have seen rapid expansion, but new business and input costs have slowly expanded the indicators. The order backlog index has been a faster contraction. In terms of future business index, the agriculture and construction sectors have expanded rapidly, where the production sector index was slow expansion. The index of the service sector has returned to contraction for the first time after 6 months.
Mashroor Riaz, chairman and CEO of the research program, said the latest PMI indicators indicated the slow expansion of the country's economy in March. Only the service sector Eid festivals have expanded rapidly, which is usually the highest time of business for retail sub -sector. However, the future business index has been contracted for the first time after the expansion of 6 months.
