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Malaysia PMI September 2021

Malaysia: Manufacturing PMI hits four-month high in September but remains entrenched in negative terrain

The manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit, rose to 48.1 in September from 43.4 in August logging the highest reading in four months. However, the index remained stubbornly below the 50-threshold that separates deteriorating from improving conditions in the manufacturing sector, compared to the previous month.

September’s improvement was chiefly driven by milder contractions in output and new orders amid easing Covid-19 curbs. Similarly, new export orders fell at a softer pace, largely on higher demand from the U.S. and the Middle East. Meanwhile, ongoing raw material shortages and delivery difficulties resulted in higher backlogs of work and another decline in input buying. Against this backdrop, input cost inflation accelerated for the 16th consecutive month, also prompting firms to increase output charges and at the sharpest rate since May.

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