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Malaysia PMI April 2022

Malaysia: Manufacturing PMI rebounds in April

The Manufacturing Purchasing Managers’ Index (PMI), produced by S&P Global, rose to 51.6 in April from 49.6 in March. As such, the PMI moved above the 50-threshold that separates improving from deteriorating conditions in the manufacturing sector compared to the previous month.

April’s result was chiefly driven by a noticeable improvement in new orders—the quickest in eight years—amid robust consumer demand at home and abroad. That said, output fell for the fourth straight month and firms reported staffing shortages as persistent border restrictions delayed work permits for foreign workers.

On the price front, input cost inflation picked up due to elevated prices for raw materials and transportation, which led businesses to pass said costs to customers. Lastly, sentiment over the coming year remained optimistic, but nevertheless slid to the lowest level since September 2021 amid concerns over rising inflation and supply shortages.

Commenting on the release, Chris Williamson, chief business economist at S&P Global, said:

“In short, manufacturers are seeing signs of reviving demand but their efforts to boost production to meet these new orders continue to be frustrated by shortages, which will likely put further pressure on inflation in the coming months.”

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