Uplift in PMI bodes well for country’s economy

IHS Markit chief business economist Chris Williamson said the uplift in the PMI for September provided a clear signal that the recent easing of pandemic-related restrictions, both domestically and in many key export markets, was helping drive an improvement in the economy. (File pic shows workers packing cooking oil. - AZHAR MAHFOF/The Star)

KUALA LUMPUR: The headline IHS Markit Malaysia Manufacturing Purchasing Managers’ Index (PMI) rose to 48.1 in September from 43.4 in August.

IHS Markit, in a statement yesterday, said while the latest reading remained below the neutral 50.0 level to signal a further loss of momentum in the manufacturing sector, the rate of deterioration eased significantly compared to the prior three months.