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Financial News: Malaysia Manufacturing PMI Slumps In May - S&P

Malaysia Manufacturing PMI Slumps In May - S&P Global

05/31/2022 - 20:45:00 (RTTNews)

(RTTNews) - The manufacturing sector in Malaysia continued to expand in May, albeit at a slower pace, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 50.1.

That's down from 51.6 in April, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

New order growth slowed sharply in the latest survey period. While positive overall, the rate of growth was only fractionally above the neutral 50.0 threshold, falling 3.9 points in comparison to April.

As a result, output volumes were scaled back for the fifth consecutive month in May. That said, the rate of moderation was only modest overall. Manufacturers also reported that raw material shortages and rising prices had dampened client demand and production capacity.

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