Malaysia’s manufacturing continues recovering in May

The manufacturing sector of Malaysia continues to recover in May but stricter measures to combat a renewed surge in COVID-19 infections has an adverse impact on production volumes (Source: themalaysianreserve)

Kuala Lumpur (VNA) – The manufacturingsector of Malaysia continued to recover in May but stricter measures to combat a renewedsurge in COVID-19 infections had an adverse impact on production volumes,according to American-British information provider IHS Markit.

The IHS Markit Malaysia Manufacturing PurchasingManagers' Index (PMI) – a composite single-figure indicator of manufacturingperformance – eased from a record high 53.9 in April to 51.3 in May.

IHS Markit stated in a newly-released report that thenewest reading marked the first time back-to-back monthly developments thathave been seen since mid-2018, despite the easing of growth in May due to thefact that Malaysia has tightened restrictions to curb the spike of COVID-19cases, with the third movement control order (MCO) put in place since May 12.

Chief business economist at HIS Markit Chris Williamson said May saw a welcome upturn in new orders received by manufacturers andnew business has now increased for two consecutive months as global demandcontinues to revive from the worst of the pandemic.

However, the recent rise in COVID-19 cases both at homeand in many key overseas markets led to further disruptions during May, whichdampened production growth and led to further supply chain delays./.

VNA