Purchasing Managers Indices indicated an expansion in Services activities and a contraction in Manufacturing activities in June 2023.
Manufacturing PMI recorded an index value of 47.3 in June 2023, indicating the setback in manufacturing activities. This setback was contributed by subdued performance observed in all the sub indices.
Services sector PMI increased further in June 2023 recording an index value of 56.7, the highest reading since January 2022. This was led by the increases observed in New Businesses, Business Activities and Expectations for Activity. Nevertheless, Backlogs of Works continued to decrease, while employment remained unchanged during the month.
Published Date:
Monday, July 17, 2023