KUALA LUMPUR, Nov 3 (NNN-BERNAMA) – S&P Global Market Intelligence said, the seasonally adjusted S&P Global Malaysia Manufacturing Purchasing Managers’ Index (PMI), slipped from 49.1 in Sept to 48.7 in Oct, indicating a slight moderation.
The research house said in a statement, the latest PMI reading is representative of approximately five percent year-on-year growth of gross domestic product (GDP) in Malaysia, which would signal some loss in growth momentum from the situation earlier in the year.
It said, the data are consistent with a continued, albeit softer expansion in official manufacturing production.
The research house economist, Laura Denman, said, the latest S&P Global PMI data for the Malaysia manufacturing sector, pointed to a further loss in growth momentum at the start of the final quarter.
She said that, anecdotal evidence suggested that demand conditions were subdued, which led firms to scale back output.
She also said, sluggish demand was particularly apparent on an international level, as signalled by the strongest moderation in new export orders since Jun, 2021.
“On a more positive note, pricing and supply pressures alleviated further in Oct. Both input cost and output price inflation softened markedly from Sept, dipping to 23 and 24-month lows, respectively,” she said.
At the same time, she said, the rate of deterioration in vendor performance was the slowest since Jan, 2020, helping to alleviate some of the headwinds that firms have faced in recent years.– NNN-BERNAMA