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Financial News: Malaysia Manufacturing Sector Picks Up Steam In December

Malaysia Manufacturing Sector Picks Up Steam In December - Markit

01/02/2022 - 20:00:00 (RTTNews)

(RTTNews) - The manufacturing sector in Malaysia continued to expand in December, and at a faster pace, the latest survey from Markit Economics revealed on Monday with a manufacturing PMI score of 52.8.

That's up from 52.3 in November and it moved further above the boom-or-bust line of 50 that separates expansion from contraction.

As a result, the average performance over the final quarter was the strongest quarterly performance since the survey began in 2012.

Looking at the historical relationship between the PMI and official statistics, the latest reading is representative of a solid expansion in manufacturing production and GDP, as the survey pointed to a broad recovery from the impact of COVID-19.

December data suggested that output rose for the third month running. The pace of expansion was moderate and was the quickest since April. Firms commonly attributed the rise to stronger demand as pandemic restrictions were eased.

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