In December 2022, Purchasing Managers Indices indicated an expansion in Services activities and a continued setback in Manufacturing activities.
Manufacturing PMI recorded an index value of 44.8 in December, indicating a continued setback in manufacturing activities. This setback was driven by subdued performance observed in all the sub-indices, except Suppliers’ Delivery Time.
Services PMI returned to the growth territory, recording an index value of 51.6 in December 2022 after declining for two consecutive months. This increase was underpinned by the improvements observed in New Businesses, Business Activities and Expectations for Activity sub-sectors. However, Employment and Backlogs of Work continued to decline during the month.
Published Date:
Tuesday, January 17, 2023