MCB Purchasing Managers Index (PMI) registered a reading of 64.26 points for July 2014, indicating enhanced economic activity in the manufacturing sector.
New orders index showed a reading of 73.4 with a higher number of survey respondents replying that an increase was witnessed. It was a growth of 2.9 points after three previous consecutive drops due to Ramazan and Eid.
Inventory levels dropped from a previous reading of 62.6 to 60.4 (-2.2) to compensate for the increase in demand as production levels did not match the new orders.
Production level increased 1 point to reach 68.4 in July 2014. Manufacturing sector added fewer jobs in July 2014 compared to May as employment index dropped from 57.2 to 55.9, showing a decline of 1.3 points.
Published in The Express Tribune, August 12th, 2014.
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