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Financial News: Myanmar Manufacturing PMI Slips Into Contraction In May

Myanmar Manufacturing PMI Slips Into Contraction In May - S&P Global

05/31/2022 - 21:10:00 (RTTNews)

(RTTNews) - The manufacturing sector in Myanmar fell into contraction in May, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 49.9.

That's down from 50.4 in April and it moves beneath the boom-or-bust line of 50 that separates expansion from contraction.

After a brief return to expansion in April, production across the manufacturing sector fell back into decline during May. That said, the rate of reduction was only modest. The fall coincided with a marginal decrease in overall new orders. Anecdotal evidence indicated that financial constraints at clients resulted in the drop in sales.

Amid weaker demand conditions, manufacturing firms reduced their purchasing activity at the sharpest rate for six months during the latest survey period.

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