Malaysia: Manufacturing PMI eases in June
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 47.7 in June, down marginally from May’s 47.8. June’s result marked the worst performance since January. As a result, the index fell further below the 50.0 no-change threshold, signaling a sharper deterioration in manufacturing sector operating conditions compared to the previous month.
Declining output, accelerating input price inflation and the strongest moderation in new orders since January drove June’s deterioration. Still-downbeat external and domestic demand conditions—as well as lingering uncertainty around the outlook—also dragged firms’ optimism down to an over two-year low. Moreover, staffing levels were reduced for the second consecutive month in June, and purchasing activity declined further.