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Malaysia PMI November 2023

Malaysia: Manufacturing PMI hits highest reading since April in November

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 47.9 in November, up from October’s 46.8. November’s result marked the strongest reading since April. Nevertheless, the index remained below the 50.0 no-change threshold, signaling a continued deterioration in manufacturing sector operating conditions from the previous month.

Muted domestic and external demand and deteriorating vendor performance underpinned November’s below-threshold reading. That said, the index moderated less than in previous months thanks to softer declines in new orders, production and staffing levels. Additionally, firms scaled back purchasing and inventory-building activity again in November but at a notably slower pace.

Meanwhile, confidence among manufacturers rose to a seven-month high amid signs of improving demand ahead. Moreover, the rate of input and output inflation remained muted despite upside pressures stemming from a weak domestic currency.

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