DHAKA, Feb 17, 2024 (BSS) - The 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 today 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, said a press release.

The PMI data index is compiled from monthly surveys of private sector enterprises. The program was formally launched in Bangladesh on February 5, 2024.

In his welcome remarks, MCCI secretary general and CEO Farooq Ahmed 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.

PEB Chairman Dr M Masrur Reaz 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.

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.