English
Malaysia: Manufacturing PMI up to 49.9 in March
KUALA LUMPUR: The headline IHS Markit Malaysia Manufacturing Purchasing Managers’ Index (PMI), a composite single-figure indicator of manufacturing performance, rose to 49.9 in March from 47.7 in February.
IHS Markit said in a statement the latest reading pointed to a stabilisation in operating conditions, with the headline Index reaching its highest since July 2020.
Chief business economist Chris Williamson said the Malaysian manufacturing sector took further welcome steps on the road to recovery in March, with rates of order book and export decline easing.
“While current production remains subdued, firms are gearing up for better times ahead, especially in relation to hiring. March saw jobs being created at the fastest rate for two years as business grew more optimistic about the outlook, ” he added.
He said the supply of inputs continued to deteriorate, adding to manufacturers’ headwinds, but rising global trade should help alleviate some of the shortages in the coming months, driving further expansion of Malaysian production and taking some of the heat out of prices. — Bernama
Source: https://www.thestar.com.my/business/business-news/2021/04/02/manufacturing-pmi-up-to-499-in-march