Malaysia: Manufacturing PMI at new low

• Dec 03, 2020

PETALING JAYA: Malaysia’s November manufacturing purchasing managers’ index (PMI) fell to 48.4 from 48.5 in October, according to IHS Markit data.

According to Bloomberg, the index was down from 49.5 a year ago and it was the lowest reading since May this year.

“Output falls to 46.3 vs 47 in October. Lowest reading since May 2020 as new orders fall vs prior month, ” it said.

A reading above 50 signals expansion while less than 50 means a contraction.

The country’s economy in the third quarter contracted at a smaller pace of 2.7% in the third quarter ended Sept 30,2020 compared with the 17.1% plunge in the second quarter.

The 2.7% decline was better than consensus expectation of a 3.7% contraction.

Source: https://www.thestar.com.my/business/business-news/2020/12/02/manufacturing-pmi-at-new-low