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Financial News: Myanmar Manufacturing PMI Improves To 43.3 In October

Myanmar Manufacturing PMI Improves To 43.3 In October - Markit

10/31/2021 - 20:45:00 (RTTNews)

(RTTNews) - The manufacturing sector in Myanmar continued to contract in October, albeit at a slower rate, the latest survey from Markit Economics revealed on Monday with a manufacturing PMI score of 43.3.

That's up from 41.1 in September although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Production volumes were again hampered by weak demand, material scarcity and a lack of skilled workers in October. The military-staged coup and the COVID-19 pandemic were also mentioned by panelists. The overall rate of decline was sharp, but the softest since January.

Similarly, new orders fell sharply and for the fourteenth month running. Firms mentioned that cash shortages, raw material scarcity and the associated increase in selling prices weighed on demand. The contraction was marked by historical standards but eased for the third month in succession.

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