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Malaysia PMI November 2021

Malaysia: Manufacturing PMI rises somewhat in November

The manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, inched up to 52.3 in November, marginally above October’s 52.2 reading. As a result, it moved further above the 50-threshold that separates improving from deteriorating conditions in the manufacturing sector compared to the previous month.

November’s result was largely attributed to growing new orders and a sharp expansion in output—the strongest in seven months—in line with firming domestic and foreign demand. In a bid to keep up with demand, manufacturers raised their headcounts, albeit still falling short of capacity to fulfil orders. Meanwhile, persisting supply disruptions and raw material shortages pushed input cost inflation further, which prompted firms to hike their selling prices in turn.

Commenting on firms’ sentiment, Chris Williamson, chief business economist at IHS Markit, noted:

“Encouragingly, companies are increasingly optimistic that production problems will start to clear in coming months, propelling firms’ prospects for the year ahead to among the highest seen since the pandemic began and auguring well for the recovery to continue to gain momentum as we head into 2022.”

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