Manufacturing PMI slightly higher at 48.8 in May
S&P Global Market Intelligence economist Usamah Bhatti said PMI data for May revealed that business conditions in the Malaysian manufacturing sector were muted.
KUALA LUMPUR: The seasonally adjusted S&P Global Malaysia manufacturing purchasing manager's index (PMI) inched up to 48.8 in May, compared to 48.6 in April, signalling a sustained, though softer moderation in operating conditions.
S&P Global Market Intelligence economist Usamah Bhatti said PMI data for May revealed that business conditions in the Malaysian manufacturing sector were muted as production levels were scaled back due to subdued new orders.
'That said, the rates of reduction in both measures eased to three-month lows and were only marginal overall.
'As such, the data indicated that gross domestic product growth is likely to have sustained at a similar pace as seen in the opening quarter of the year,' he said in a statement today.
He noted that manufacturing firms also reported a gradual increase in cost burdens, with average input costs rising at the sharpest rate in six months. — Bernama
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