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) The IHS Markit Malaysia Manufacturing Purchasing Managers' Index (PMI) – a composite single-figure indicator of manufacturing performance – eased from a record high 53.9 in April to 51.3 in May.
IHS Markit stated in a newly-released report that the newest reading marked the first time back-to-back monthly developments that have been seen since mid-2018, despite the easing of growth in May due to the fact that Malaysia has tightened restrictions to curb the spike of COVID-19 cases, 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 and new business has now increased for two consecutive months as global demand continues to revive from the worst of the pandemic.
However, the recent rise in COVID-19 cases both at home and in many key overseas markets led to further disruptions during May, which dampened production growth and led to further supply chain delays./.
VNA
