The manufacturing sector in Malaysia experienced continued contraction in October, maintaining a consistent pace, according to the recent survey conducted by S&P Global, released on Friday. The manufacturing PMI was recorded at 49.5, which remains unchanged from September and falls below the crucial threshold of 50, distinguishing expansion from contraction.
This latest PMI reading aligns with moderate growth in official GDP figures, extending the trend initiated in the third quarter. The findings further suggest that the recent expansion indicated by official manufacturing production data has persisted as we enter the final quarter of the year.
New orders witnessed an increase for the first time since June at the beginning of the last quarter. However, feedback from panelists indicated subdued demand, implying that the overall rate of expansion was marginal.
