Manufacturing and services activities charge ahead in June

The Purchasing Managers’ Index (PMI) for June showed manufacturing activities had continued to expand while the services sector growing at an accelerated pace, supported by strong lending activity made possible from lower interest rates.

- 

According to the PMI, the manufacturing sector recorded an index value of 51.9 for June, compared to 55.5 in May, reflecting continued expansion in activities, albeit at a slightly slower pace.

Meanwhile, the services sector activities expanded at a faster pace, as reflected by the 61.9 index points for the sector in June, which rose from 57.0 in May.

In the PMI, an activity is divided between an expansion and a contraction at the index value of 50.0, which is considered the neutral level.

Under manufacturing, both new orders and production sub-indices, continued their growth in June, which also helped to expand the stock of purchases.