As inflationary pressures mount further, the growth of the local manufacturing sector in June moved at its slowest expansion in almost a year, the latest survey from S&P Global showed.
As inflationary pressures mount further, the growth of the local manufacturing sector in June moved at its slowest expansion in almost a year, the latest survey from S&P Global showed.
Maryam Baluch, S&P Global Market Intelligence economist said the latest PMI survey of around 400 manufacturers in the country indicated a loss in growth momentum. “The rates of reduction were modest but signified a visible change from the strong expansions seen in June, amid challenging demand conditions,” S&P Global said.
Moreover, with business requirements receding and prices rising, forcing firms to be unenthusiastic to make purchases. Buying activity was muted throughout July, with the rate of increase only fractional overall.
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