The manufacturing sector in Malaysia continued to contract in June, and at a faster pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 47.7.
That's down from 47.8 in May and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
The weaker headline figure was in part due to a sustained slowdown in new order inflows that was the tenth in as many months. The moderation was solid and the strongest recorded since the start of the year as firms noted muted demand and client confidence in both domestic and international markets.
As such, export demand for Malaysian manufactured goods fell further and at the steepest rate for four months. Muted demand contributed to a broadly similar moderation in production volumes than had been seen in May. Firms often attributed softer output to subdued incoming orders.
