Malaysia's PMI declines in January as Omicron creates further headwinds

KUALA LUMPUR: The headline IHS Markit Malaysia Manufacturing Purchasing Managers’ Index (PMI), a composite single-figure indicator of manufacturing performance, fell to 50.5 in January from 52.8 in December 2021.

IHS Markit chief business economist Chris Williamson said Malaysia’s manufacturers reported a new downturn in January as the Omicron variant created further headwinds for manufacturers around the world, dampening demand and exacerbating existing, unprecedented supply chain delays.