IHS Markit: Asean manufacturing conditions picked up pace in April

IHS Markit economist Lewis Cooper said the April PMI data point to a much improved performance for the Asean manufacturing sector, with clear signs that the recovery has begun.

KUALA LUMPUR: Asean manufacturing conditions improved at a noticeably quicker rate in April this year to 51.9 from 50.8 recorded in March, according to the latest IHS Markit Purchasing Managers’ Index (PMI) data.

It said central to the stronger performance of the sector was the fastest upturn in output since July 2014 and the steepest rise in new orders since May 2013, coupled with improved business confidence, with firms optimistic towards the year-ahead outlook.