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Financial News: Malaysia Manufacturing Sector Accelerates In June - S&P

Malaysia Manufacturing Sector Accelerates In June - S&P Global

06/30/2022 - 21:56:00 (RTTNews)

(RTTNews) - The manufacturing sector in Malaysia continued to expand in June, and at a faster rate, the latest survey from S&P Global showed on Friday with a manufacturing PMI score of 50.4.

That's up from 50.1 in May and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

This pointed to a slightly stronger, yet still modest, improvement in the health of the Malaysian manufacturing sector and extended the current sequence of expansion to three months.

Looking at the historical relationship between official statistics and the PMI, the latest reading is representative of modest growth in industrial production and GDP in the second quarter of the year, following a strong start to 2022. Production levels stabilized in June, ending a sequence of five consecutive monthly declines.

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