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Financial News: Malaysia Manufacturing PMI Slips To 50.3 In August

Malaysia Manufacturing PMI Slips To 50.3 In August - S&P Global

08/31/2022 - 20:36:00 (RTTNews)

(RTTNews) - The manufacturing sector in Malaysia continued to expand in August, albeit at a slower pace, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 50.3.

That's down from 50.6 in July, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

The softer headline figure was largely due to a renewed moderation in output volumes that was the first since May. That said, the rate of reduction was only fractional. Firms commonly attributed muted production to difficulty receiving inputs amid sustained delivery delays, though these were not as severe as in previous months.

Incoming order volumes rose for the fifth month running in the latest survey period. While modest overall, the rate of expansion was the strongest recorded since April as firms noted stronger client confidence, notably in domestic markets. Export demand for Malaysian manufactured goods fell, however, at the sharpest pace for a year amid weak global economic conditions.

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