A lack of demand was a key factor behind a further slowdown in Malaysia’s manufacturing production as the sector continued to contract in May, and at a faster rate, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 47.8.
That’s down from 48.8, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Manufacturing new orders moderated for the ninth month running in May, with the latest slowdown the sharpest in three months amid widespread reports of demand weakness.
The subdued demand environment was not limited to the domestic market, with new export orders also softening.
The PMI eased lower for the tenth month running and to the greatest extent since January, it said.
