Purchasing Managers Indices in August 2023 indicated an expansion in Services activities and a softening of the contraction in Manufacturing activities.
Manufacturing PMI recorded an index value of 49.3 in August 2023, reaching closer to the neutral threshold, indicating signs of a recovery in manufacturing activities compared to previous months. Considering the sub-indices, New Orders and Suppliers' Delivery Time increased during the month, while Production and Employment remained contracted.
Services sector PMI recorded an index value of 57.6 in August 2023, indicating a continued expansion in the services activities. This was led by the increases observed in New Businesses, Business Activities and Expectations for Activity. Nevertheless, Employment remained nchanged, while Backlogs of Works remained contracted during the month.