July 31, 2023
Malaysia PMI constricted for 10th Consecutive Month
July 31, 2023
In June, Malaysia’s seasonally adjusted S&P manufacturing purchasing manager’s index (PMI) recorded a reading of 47.7, a slight decrease from 47.8 in May. The reading indicates a tenth consecutive moderation in operating conditions, suggesting that weaker trends for manufacturing production and GDP were sustained throughout the second quarter of the year. According to S&P Global Market Intelligence, the weaker headline was in part due to a sustained slowdown in new order inflows, while production and demand were held back due to subdued business conditions in the Malaysian manufacturing sector and increasing inflationary pressures.
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