Malaysia's Manufacturing Firms Lose Further Growth Momentum In November
Muhammad Irfan Published December 01, 2022 | 04:10 PM
KUALA LUMPUR, Dec. 1 (UrduPoint / Pakistan Point News - 1st Dec, 2022 ) --:The Malaysian manufacturing sector moderated further midway through the final quarter of 2022 with waning demand, a central feature within the latest survey data revealed by S&P Global Market Intelligence on Thursday.
It also said the latest PMI reading is representative of approximately 5 percent year-on-year growth in Malaysian gross domestic product (GDP), thereby signaling a slowdown in growth from the situation in the third quarter of 2022.
According to her, there was a solid slowdown in production levels and the fastest scaling back in order book volumes since August 2021.
"The aforementioned fragility in demand became a running theme throughout the survey data and was reportedly the Primary factor driving moderations in input buying, stocks and business confidence which, though still positive, slipped to a five-month low," she said.