Malaysia’s PMI reaches seven-month high in November
The Purchasing Managers’ Index (PMI) of Malaysia rose to a seven-month high of 47.9 in November, up from 46.8 in October, signaling a muted moderation in the health of the manufacturing sector, according to S&P Global.
Hanoi (VNA) – The PurchasingManagers’ Index (PMI) of Malaysia rose to a seven-month high of 47.9 inNovember, up from 46.8 in October, signaling a muted moderation in the healthof the manufacturing sector, according to S&P Global.
S&P Global Market Intelligence said the historicalrelationship between the PMI and official GDP data indicates that the finalquarter of 2023 will see continued growth, with the magnitude of the expansionlikely to be similar to the 3.3% year-on-year increase posted in the thirdquarter.
Andrew Harker, Economics Director at S&P Global MarketIntelligence, noted: "Although Malaysian manufacturers remained underpressure in November, the latest PMI data provide tentative signs that thesector may be turning a corner.”
New orders moderated to a lesser extent, and this fed throughto softer slowdowns in output, purchasing and employment, the latter of whichwas close to stabilisation during November, he noted.
Business confidence also picked up, suggestingthat these nascent improvements have the potential to be sustained into 2024, Harkeropined./.
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