The manufacturing sector in Malaysia continued to contract in March, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 48.8.
That's up from 48.4 in February, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
In line with the headline figure, there were signs that the lull in demand was easing during March, with order book volumes reducing at a slower rate. The moderation was only mild and the softest seen since last October.
While a number of firms still noted that client confidence was subdued, some commented that demand had shown signs of recovery at the end of the first quarter through an increase in customer orders. Similarly, there was a slower reduction in new export orders, which fell at the softest pace since July 2022.
