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Financial News: Malaysia Manufacturing Sector Bounces To Expansion - S&P

Malaysia Manufacturing Sector Bounces To Expansion - S&P Global

06/03/2024 - 21:55:00 (RTTNews)

(RTTNews) - The manufacturing sector in Malaysia swung back up into expansion territory in May, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 50.2.

That's up from 49.0 in April and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Production levels returned to expansion for the first time since July 2022, albeit only marginally. This was underpinned by renewed growth in new orders, marking an end to 20 successive months of subdued demand conditions.

Better underlying demand was behind the rise in new work, according to survey panelists. Export orders rose as well, and at the most pronounced pace in just over three years, with manufacturers reporting higher inflows of new work from the US, Europe, Middle East and other parts of the Asia-Pacific region.

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