KUALA LUMPUR: Malaysia's new exports rose for the sixth month in a row in July, according to the Nikkei Malaysia Manufacturing Purchasing Managers' Index (PMI).
Financial information services provider, Markit, which did the survey, said that firms attributed the increase to gains from new foreign clients and product launches, leading to greater international demand.
The headline Nikkei Malaysia Manufacturing PMI is a composite single-figure indicator of manufacturing performance derived from indicators for new orders, output, employment, suppliers' delivery times and stocks of purchases.
In a note, Markit said, Malaysia's headline PMI was marginally higher at 47.7 in July from 47.6 in June.
Markit economist Amy Brownbill said the data indicated worsening operating conditions faced by Malaysian manufacturers as production declined further, alongside a marked contraction in new orders due to weak domestic demand.
"Meanwhile, buying actitivies contracted for the second straight month, leading to a fall in stocks of purchases.
"Moreover, the rate of depletion in pre-production goods was the fastest in the survey history," she said. - Bernama
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
