Latest news with #UsamahBhatti
The Star
2 days ago
- Business
- The Star
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
Malaysia Sun
2 days ago
- Business
- Malaysia Sun
Malaysia's manufacturing PMI rises slightly to 48.8 in May
Xinhua 03 Jun 2025, 17:15 GMT+10 KUALA LUMPUR, June 3 (Xinhua) -- The seasonally adjusted S&P Global Malaysia Manufacturing Purchasing Managers' Index (PMI) rose slightly from 48.6 in April to 48.8 in May to signal a sustained, albeit softer moderation in operating conditions. S&P Global said in a statement on Tuesday that the health of the manufacturing sector has now softened in each of the last 12 months. "PMI data for May revealed that business conditions in the Malaysian manufacturing sector were muted as production levels were scaled back in the midst of subdued new orders," said Usamah Bhatti, Economist at S&P Global Market Intelligence. He noted that the rates of reduction in both measures eased to three-month lows and were only marginal overall. According to him, manufacturing firms also reported a gradual increase in cost burdens, with average input costs rising at the sharpest rate in six months. Citing survey evidence, he opined that the impact of unfavorable currency movements and the U.S. tariffs on raw material prices had pushed expenses higher, especially from abroad. "Sentiment stayed positive meanwhile, with firms expecting higher output in the coming year," he added.
The Star
2 days ago
- Business
- The Star
Malaysia's manufacturing PMI slightly higher at 48.8 in May 2025 - S&P Global
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 (GDP) 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. Citing the survey evidence, he said the impact of unfavourable currency movements and US tariffs on raw material prices had pushed expenses higher, especially from abroad. "Sentiment stayed positive meanwhile, with firms expecting higher output in the coming year. "The degree of confidence receded from April to the lowest since mid-2021 amid concern regarding US trade policy and a lack of suitable workers, he said. Meanwhile, S&P Global also said Malaysian manufacturers reported that employment levels were unchanged midway through the second quarter, thereby ending a seven-month sequence of job shedding. Hence, it said the muted new order inflows enabled firms to continue working through outstanding business, and the level of backlogs was marginally lower in the latest survey month. - Bernama
Yahoo
3 days ago
- Business
- Yahoo
S.Korea factory activity shrinks again, new orders suffer steepest slump in 5 years, PMI shows
SEOUL (Reuters) - South Korea's factory activity shrank for a fourth month in May as frail domestic demand and the impact of U.S. tariffs took a heavy toll on factory output while overall orders plunged at their steepest pace in five years, a business survey showed on Monday. The Purchasing Managers Index (PMI) for manufacturers in Asia's fourth-largest economy, released by S&P Global, edged up to 47.7 in May, from 47.5 in April. The index has stayed below 50-mark, which separates expansion from contraction, since February. "South Korea's manufacturing sector came into May on an unstable footing," said Usamah Bhatti, economist at S&P Global Market Intelligence. "Firms often mentioned that the contraction was attributed to a continuing stagnation in the domestic economy, as well the continued impact of higher U.S. tariffs on the home market as well as on key export markets." New orders suffered their steepest contraction since June 2020 while output fell at the quickest rate in just over two-and-a-half years. U.S. President Donald Trump's global trade war has added to already weak demand conditions in South Korea, which recently suffered its worst wildfires on record and has faced political turmoil. The trade-reliant economy unexpectedly contracted in the first quarter, raising pressure on policymakers to shore up demand. The Bank of Korea on Thursday cut rates for the fourth time in its current easing cycle and almost halved this year's economic outlook to 0.8%, just days ahead of a presidential election slated for June 3, citing downside risks from U.S. tariff policy as well as a sluggish construction sector. The PMI survey also showed a fall in backlogs of work for the second month, with the most pronounced depletion in nearly five years in the face of subdued new orders. On a brighter note, manufacturers turned optimistic, reversing the brief spell of negative sentiment in April, partly led by hopes of an easing in global trade tensions. However, the degree of confidence was modest and reflected persistent concerns over the impact of tariffs. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
S.Korea factory activity shrinks again, new orders suffer steepest slump in 5 years, PMI shows
SEOUL (Reuters) - South Korea's factory activity shrank for a fourth month in May as frail domestic demand and the impact of U.S. tariffs took a heavy toll on factory output while overall orders plunged at their steepest pace in five years, a business survey showed on Monday. The Purchasing Managers Index (PMI) for manufacturers in Asia's fourth-largest economy, released by S&P Global, edged up to 47.7 in May, from 47.5 in April. The index has stayed below 50-mark, which separates expansion from contraction, since February. "South Korea's manufacturing sector came into May on an unstable footing," said Usamah Bhatti, economist at S&P Global Market Intelligence. "Firms often mentioned that the contraction was attributed to a continuing stagnation in the domestic economy, as well the continued impact of higher U.S. tariffs on the home market as well as on key export markets." New orders suffered their steepest contraction since June 2020 while output fell at the quickest rate in just over two-and-a-half years. U.S. President Donald Trump's global trade war has added to already weak demand conditions in South Korea, which recently suffered its worst wildfires on record and has faced political turmoil. The trade-reliant economy unexpectedly contracted in the first quarter, raising pressure on policymakers to shore up demand. The Bank of Korea on Thursday cut rates for the fourth time in its current easing cycle and almost halved this year's economic outlook to 0.8%, just days ahead of a presidential election slated for June 3, citing downside risks from U.S. tariff policy as well as a sluggish construction sector. The PMI survey also showed a fall in backlogs of work for the second month, with the most pronounced depletion in nearly five years in the face of subdued new orders. On a brighter note, manufacturers turned optimistic, reversing the brief spell of negative sentiment in April, partly led by hopes of an easing in global trade tensions. However, the degree of confidence was modest and reflected persistent concerns over the impact of tariffs. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
