MCCI Hosts FGD with Journalists on the Purchasing Managers’ Index for Bangladesh

Publish: 6:57 PM, February 19, 2024 | Update: 6:57 PM, February 19, 2024

Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI), in collaboration with Policy Exchange Bangladesh (PEB), with the support of the Foreign, Commonwealth, and Development Office (FCDO), organized a Focus Group Discussion (FGD) with journalists on the Purchasing Managers’ Index (PMI) for Bangladesh on Saturday, 17 February 2024, at its Motijheel office.

The primary objective of the FGD was to raise awareness about the recently launched PMI for Bangladesh so that the national media could accurately document and cover it.

The PMI is a leading economic indicator which helps understand the economic health of a country. It provides insights into key economic sectors and captures early trends. The PMI data index is compiled from monthly surveys of private sector enterprises. The program was formally launched in Bangladesh on 5 February 2024.

In his welcome remarks, the MCCI Secretary-General and CEO said that the PMI was already in use in many countries to gauge the economic health of a nation. The purpose of this FGD was to disseminate information and effectively convey the details of the PMI to the media community, facilitating their documentation and coverage. He was confident that it would bring clarity to many matters.

The PEB Chairman said that since the PMI offered quantified description, comparison and quantification were possible. Although the PMI was launched in early February 2024, there was 1.5 years of preparation behind it. He believed it would be beneficial for making decisions and policies.

Mr. Hasnat Alam, Senior Manager, Market and Policy Advisory, PEB gave a brief presentation on the PMI program. This was followed by an open discussion. Topics that came up in the discussion include the comparison of PMI with other indicators, its interpretation, challenges, scope, the need for PMI-interpretation training programs for  reporters, and many more. It was clarified that the PMI will simply reveal the variance in economic activity, and not exact figures sensitive to businesses.

The discussion, which ended with a call to lunch, was attended by representatives of the media.