The manufacturing sector in Malaysia continued to contract in November, albeit at a slower pace, the latest survey from S&P Global revealed on Friday with a manufacturing PMI score of 47.9.
That's up from 46.8 in October although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
The historical relationship between the PMI and official GDP data indicates that the final quarter of 2023 will see continued growth, with the magnitude of the expansion likely to be similar to the 3.3% year-on-year increase posted in the third quarter. Meanwhile, the data are consistent with broadly unchanged official manufacturing production numbers on an annual basis.
New orders eased for the fifteenth month running in November amid weak demand, including in international markets. That said, there were some reports of customer new orders showing tentative signs of improvement, resulting in the softest slowdown in new business since August.
