PETALING JAYA, Feb 3 — Malaysia has last month lost its momentum in the manufacturing sector which started since last September, according to the IHS Markit Malaysia Manufacturing Purchasing Managers’ Index (PMI). A key factor behind this moderation was export orders, which declined during...
Monday, 03 Feb 2020 11:39 AM MYTFor December, local manufacturing activity rose to its highest since September 2018, where Malaysia’s PMI rose to 50.0 on the index, up from 49.5 in the previous month and hitting a 15-month high. — Reuters pic
The headline IHS Markit Malaysia Manufacturing PMI recorded 48.8 in January, down from 50.0 in the previous month.“A hindrance to Malaysia’s manufacturing sector in January was export markets, as survey data showed the first drop in sales to external clients since last October,” it said.“As a result, total order book volumes were adversely impacted to the greatest extent since September,” it added.
“Even after allowing for usual seasonal variations, business trends can be volatile around the year-end, so we don’t recommend reading too much into one month’s data. He said IHS Markit’s forecasts are for global growth to pick up pace heading through 2020, in part due to the phase one deal between the US and China helping boost trade, but we could see markets grow more nervous again if the US ratchets-up its focus on Europe.
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