MALAYSIA’S MANUFACTURING PMI RISES TO 43-MONTH HIGH

KUALA LUMPUR, Malaysia — The Nikkei Malaysia Manufacturing Purchasing Managers’ Index (PMI) rose to a 43-month high to 52.0 in November from 48.6 in October, supported by improvements in domestic and overseas demand conditions.

Information and analysis provider, IHS Markit which conducted the survey, said the November data showed the strongest improvement in Malaysia’s manufacturing sector since April 2014.

Additionally, its Economist, Aashna Dodhia said the positive developments had fuelled job creation at the joint-strongest rate since December 2012.

However, inflationary pressures proved to be an impediment to business performance, with reports of suppliers struggling to obtain raw materials, she added, in a statement today.

She said subsequently, vendor performance deteriorated for the first time in three months.

Meanwhile, Dodhia said new export orders rose at the joint second-fastest rate in the series’ history, reflecting an increase in overseas demand for Malaysian goods.

Overall, growth momentum in Malaysia is likely to be sustained towards the end of the year, she said.

Source: NAM NEWS NETWORK