Latest news with #MaryamBaluch
The Star
7 days ago
- Business
- The Star
Asean manufacturing sector records slight uptick in May amid challenging conditions - S&P Global
Workers assemble VinFast Auto Ltd. Feliz S electric scooters at the company's manufacturing plant in Hai Phong, Vietnam. - Bloomberg KUALA LUMPUR: The ASEAN manufacturing sector recorded a slight performance uptick in May, with the leading index inching up to 49.2 from 48.7 in April, according to the latest S&P Global ASEAN Manufacturing Purchasing Managers' Index (PMI). In a note, S&P Global said the modest uptick was supported by a softer and marginal rate of output contraction. "As a result, firms aligned their employment levels, purchasing activity, and stocks of input accordingly, with downturns in all areas showing less severity compared to April. "That said, new orders received at the ASEAN manufacturing sector fell at a quicker rate,' it said. S&P Global stated that key indicators, including output, new orders, employment, and raw material inventories, have all registered declines. "Vendor performance also deteriorated, (with) delivery times for inputs lengthening after remaining relatively stable the previous month,' it said. On a slightly more positive note, S&P Global noted that cost pressures have eased, with companies raising charges only marginally. "This adjustment, however, partly reflects a broader trend of declining demand within the market,' it said. S&P Global said new orders from international markets also weakened, signalling an overall challenging demand environment. "Though modest, the rates of contraction were the most marked since August 2021 and over the past five months, respectively,' it said. Regarding the output prospects, S&P Global stated that ASEAN manufacturers exhibited a slightly more optimistic outlook for the year ahead, despite the sector's subdued performance. However, it said the level of confidence remains historically weak, ranking as the second-lowest since July 2020. Commenting on the data, S&P Global Market Intelligence economist Maryam Baluch said the region's manufacturing sector continued to face challenges as it reached the midpoint of the second quarter, with operating conditions further worsening. She said the PMI data indicated that while the latest downturn has been milder -- partly due to softer contractions in output, employment, and purchasing activity -- the decline in new orders has intensified, marking the steepest drop since August 2021. "This notable decrease, along with a general sense of subdued optimism among industry panellists, suggests that the sector may face ongoing difficulties in achieving growth in the coming year,' she added. - Bernama
GMA Network
02-06-2025
- Business
- GMA Network
Philippine manufacturing decelerates in May 2025
The Philippine manufacturing sector posted a deceleration in May to signal a broad stagnation in operating conditions, results of the latest survey conducted by S&P Global released on Monday showed. The headline S&P Global Philippines Manufacturing PMI stood at 50.1 in May, down from 53.0 in April, and close to the 50.0 threshold that separates expansion from contraction. 'The promising growth observed at the beginning of the second quarter signalled a notable cooling in May, according to the latest PMI data,' S&P Global Market Intelligence economist Maryam Baluch said in a commentary. 'While new orders continued to increase, they did so at a slower pace, overshadowed by contractions in other areas. Notably, output, employment, and the inventories of both purchases and finished goods all experienced fresh declines,' she added. S&P attributed the softer growth in input buying activity to the slowdown in new order growth, while manufacturers said it took longer to receive essential materials and supplies during the month. The replenishment of stocks of inputs depleted for the first time in three months. 'The situation was further exacerbated by a deteriorating demand from foreign markets, with May witnessing a sharper drop in new export orders. As global trade tensions escalate, the outlook for overseas demand appears increasingly precarious,' Baluch said. Workforce numbers likewise declined during the month, falling into contraction territory, as job shedding posted its strongest in 11 months due to voluntary resignations and non-replacement of such roles. The limited manpower then trickled into the buildup of backlogs across Philippine manufacturers, with the accumulation rate overall modest. 'On a brighter note, inflationary pressures remain modest and historically subdued, which could play an important role in supporting demand moving forward,' Baluch said. 'The stability of price pressures may also provide a necessary buffer against the challenges posed by a cooldown in new orders and external market uncertainties,' she added. Survey responses were collected in the second half of the month, taking into account responses from purchasing managers in a panel of around 400 manufacturers. The PMI is a weighted average of new orders, output, employment, suppliers' delivery times, and stocks of purchases. The Philippine Statistics Authority (PSA) is scheduled to release official government figures on manufacturing for the month of May on July 8, 2025. — BM, GMA Integrated News
Fibre2Fashion
08-05-2025
- Business
- Fibre2Fashion
ASEAN manufacturing contracts in April as output declines sharply
The S&P Global ASEAN Manufacturing Purchasing Managers' Index (PMI) declined for the second consecutive month in April, slipping below the 50.0 threshold for the first time since December 2023. Falling to 48.7 from 50.8 in March, it marked the sharpest deterioration in operating conditions since August 2021. The beginning of the second quarter reflected a renewed weakening in the region's manufacturing health, with notable declines in both output and new orders. In response to reduced production needs, companies scaled back purchasing activity and trimmed workforce numbers. Business sentiment also took a hit, with confidence in future output reaching its lowest level since July 2020. The S&P Global ASEAN Manufacturing PMI fell to 48.7 in April, marking the first contraction since December 2023. Output, new orders, purchasing activity, and employment all declined, while confidence hit a 57-month low. Cost pressures eased, and supply chains slightly improved. Firms remained cautiously optimistic, but sentiment was notably weaker, reflecting growing concerns about future recovery. In April, the two key components of the PMI—new orders and output—saw renewed and marked declines, ending 13- and six-month growth streaks, respectively. Both experienced their steepest downturns in 44 months. Reflecting reduced production needs, firms cut back on purchasing activity for the first time in six months. Although modest, the decline was the sharpest since August 2021. Employment also fell for the second month running, with April's job shedding slightly outpacing that of March, S&P Global said in a press release. Staffing levels declined only slightly, yet the rate of reduction was the sharpest recorded since April 2024. S&P Global ASEAN Manufacturing PMI (seasonally adjusted), where a reading above 50 indicates an improvement from the previous month. Reduced purchasing activity led to a decline in input inventories for the first time in three months. This drop in demand also eased pressure on supply chains, resulting in a marginal improvement in supplier performance—the first in a year. Cost pressures softened in April, with input costs rising only modestly and at the slowest pace in four-and-a-half years. Selling price inflation held steady and remained subdued overall, added the release. Although firms retained a broadly positive outlook for the year ahead, overall sentiment declined significantly, with confidence dropping below the historical average to its lowest level since July 2020. 'April PMI data revealed a concerning picture for ASEAN goods producers, as the sector fell back into contraction for the first time in 16 months. Both output and new orders recorded renewed contractions, accompanied by reduced purchasing activity and a deepening downturn in job shedding,' said Maryam Baluch, economist at S&P Global Market Intelligence . 'Even more troubling was the slump in confidence observed in April, which reached a 57-month low, signalling a significant loss in sentiment among manufacturers. This decline in confidence raises concerns about the sector's ability to recover in the near term and suggests that firms may be bracing for further challenges ahead.' Fibre2Fashion News Desk (SG)
Yahoo
17-03-2025
- Business
- Yahoo
Households fear financial wellbeing will deteriorate sharply
UK households believe their financial wellbeing over the coming year will deteriorate 'sharply' with confidence at its most downbeat in 15 months, according to a survey. Only higher-income households are seeing an improvement in their financial situation, the S&P Global UK Consumer Sentiment Index (CSI) survey found. The CSI, tracking household financial wellbeing, labour market conditions, household spending, savings and debt, reached 45.3 in March, down slightly from 45.4 in February – where readings below 50 signal a decrease or deterioration. A continued reduction in disposable incomes led to an overall downbeat spending environment, with households noting that cash available to spend continued to diminish, though at a rate that was unchanged on the month and weaker than the long-run average. However the survey, collected monthly since 2009 and based on a panel of 1,500 UK households, revealed a growing appetite for borrowing, with households finding it easier to secure credit helped by recent rate cuts. S&P Global Market Intelligence economist Maryam Baluch said: 'Consumer confidence across UK households remained pessimistic in March. 'Headwinds to the labour market and a more general slowdown in the UK economy affected households' perceptions on their financial health over the coming months. 'In fact, March data revealed that financial wellbeing over the coming year is set to deteriorate sharply. Sentiment regarding the outlook was the most downbeat in 15 months. Firms also continued to express their concerns around savings and cash availability.' Pessimism towards job security persisted, with households signalling negativity for a third consecutive month – in stark contrast to the optimism recorded throughout most of 2024. Data broken down by home-ownership status revealed that mortgage holders expressed the greatest level of pessimism. The findings are based on a survey of 1,500 UK households between March 6-10.
The Independent
17-03-2025
- Business
- The Independent
Households fear financial wellbeing will deteriorate sharply
UK households believe their financial wellbeing over the coming year will deteriorate 'sharply' with confidence at its most downbeat in 15 months, according to a survey. Only higher-income households are seeing an improvement in their financial situation, the S&P Global UK Consumer Sentiment Index (CSI) survey found. The CSI, tracking household financial wellbeing, labour market conditions, household spending, savings and debt, reached 45.3 in March, down slightly from 45.4 in February – where readings below 50 signal a decrease or deterioration. A continued reduction in disposable incomes led to an overall downbeat spending environment, with households noting that cash available to spend continued to diminish, though at a rate that was unchanged on the month and weaker than the long-run average. However the survey, collected monthly since 2009 and based on a panel of 1,500 UK households, revealed a growing appetite for borrowing, with households finding it easier to secure credit helped by recent rate cuts. S&P Global Market Intelligence economist Maryam Baluch said: 'Consumer confidence across UK households remained pessimistic in March. 'Headwinds to the labour market and a more general slowdown in the UK economy affected households' perceptions on their financial health over the coming months. 'In fact, March data revealed that financial wellbeing over the coming year is set to deteriorate sharply. Sentiment regarding the outlook was the most downbeat in 15 months. Firms also continued to express their concerns around savings and cash availability.' Pessimism towards job security persisted, with households signalling negativity for a third consecutive month – in stark contrast to the optimism recorded throughout most of 2024. Data broken down by home-ownership status revealed that mortgage holders expressed the greatest level of pessimism. The findings are based on a survey of 1,500 UK households between March 6-10.
