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PMI for Manufacturing Services activities expands

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The increase in New Orders, particularly in the manufacture of textile and wearing apparel and food and beverages sectors, have contributed considerably to the overall improvement in the PMI.

In the next three months, expectations for manufacturing activities remain at elevated levels anticipating further improvements in economic conditions locally and globally.

Meanwhile Services PMI entered the growth territory reporting an index value of 52.2 in September 2021 following the dip observed in August 2021.

This was underpinned by the increases in New Businesses, Backlogs of Work and Expectations for Activity sub-indices.

New Businesses increased in September compared to the previous month mainly with the improvements observed in transportation, solely related to freight forwarding, financial services, education and telecommunication sub-sectors.

Employment sub-index continued to remain in the negative territory with retirements and voluntary resignations amid comparatively low levels of new recruitments. Meanwhile, Backlogs of Work continued to increase in September since a limited staff reported to work amid prolonged travel restrictions and COVID-19 infections among staff members.

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