The manufacturing sector in Malaysia continued to contract in September, and at a faster rate, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 46.8.
That's down from 47.8 in August, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
The figures for the third quarter suggest that year-on-year GDP growth eased further from that seen in the second quarter. The data are also consistent with official manufacturing production remaining broadly stable on an annual basis.
Manufacturing new orders moderated for the thirteenth month running in September, with the latest slowdown the sharpest in eight months amid widespread reports of demand weakness. The subdued demand environment was not limited to the domestic market, as new export orders softened to the greatest extent since May 2020.
