Manufacturing contraction in large-scale and medium industries, which witnessed over 4.0 per cent fall in September over August, coupled with high inflation abroad and at home along with other challenges, have given rise to worries of economic slowdown in Bangladesh.
This is as per media reports, which citing Bangladesh’s national statistical organisation, maintained the principal contributors to the sluggishness were textiles (down by 3.6 %), apparel (down by 2.2 %), food (down by 8.25%) and chemical products (down by 50 %) even if available data reportedly showed manufacturing shrank over 2.0 per cent compared to a year earlier.
Meanwhile, speaking to the media, BGMEA first Vice President Syed Nazrul Islam reportedly said apparel makers in the country had received substantial orders in March and April and production was good until August before production took a hit in September.
“Our bad time started in November with the buyers showing less interest following poor demand for clothing in Europe and the USA,” Syed Nazrul Islam said.
