Malaysia PMI September 2018

Malaysia

Malaysia: Manufacturing PMI reaches 10-month high in September

October 1, 2018

The manufacturing Purchasing Managers’ Index (PMI), produced by Nikkei and IHS Markit, increased to 51.5 in September from 51.2 in August. The index thus moved further north of the 50-point threshold separating expansion from contraction in Malaysia’s manufacturing sector.

The improvement in the headline reading came on the back of stronger jobs growth. Moreover, new orders, new export orders and output rose, while business expectations were solid. The manufacturing sector appeared relatively unharmed by the introduction of the new sales and services tax (SST) on 1 September, although firms reported increased cost pressures due to the implementation of the tax, with input prices increasing at the quickest pace in six months. As a result, output prices increased. Furthermore, firms voiced some concern over how the SST could affect future orders.

FocusEconomics Consensus Forecast panelists see fixed investment rising 2.3% in 2018, which is down 1.1 percentage points from last month’s estimate. For 2019, the panel expects fixed investment to increase 4.0%, down 0.6 percentage points from last month’s projection.


Author:, Economist

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Malaysia PMI September 2018

Note: Nikkei Malaysia Manufacturing Purchasing Managers’ Index. Readings above 50 indicate an expansion in the manufacturing sector while readings below 50 indicate a contraction.
Source: Nikkei and IHS Markit.


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