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Financial News: Myanmar Manufacturing PMI Sinks To 46.5 In July

Myanmar Manufacturing PMI Sinks To 46.5 In July - S&P Global

07/31/2022 - 21:25:00 (RTTNews)

(RTTNews) - The manufacturing sector in Myanmar continued to contract in July, and at a faster pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 46.5.

That's down from 48.2 in June, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

Production volumes dropped at a quicker rate in July, with the pace of decrease in factory orders also accelerating on the month. Panelists often highlighted that the financial constraints of customers had weighed on inflows of new orders.

Moreover, ongoing material shortages and supplier price hikes further dampened output volumes, and at times resulted in temporary factory closures. In line with a fall in production requirements, firms reduced their staffing levels during July. While the rate of job shedding was modest, it ended a seven-month sequence of rising employment.

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