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Financial News: Malaysia Manufacturing PMI Turns To Contraction

Malaysia Manufacturing PMI Turns To Contraction

02/02/2020 - 20:30:00 (RTTNews)

(RTTNews) - The manufacturing sector in Malaysia slipped into contraction territory in January, the latest survey from IHS Markit revealed on Monday with a manufacturing PMI score of 48.8.

That's down sharply from 50.0 in December, and it moves beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, manufacturing output was hit by a drop in export demand, while firms cut input purchases amid strong input cost inflation.

However, businesses largely retained an optimistic view towards future output in the coming months.

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