August Asean PMI data shows business improvement

Losing steam: A man works on the production line of Nio electric vehicles at a plant in Hefei. China’s August PMIs confirmed signals from high-frequency data – the economy continued to lose speed over the summer. — China Daily via Reuters

KUALA LUMPUR: The Purchasing Managers’ Index (PMI) data for August 2022 signalled an eleventh monthly improvement in business conditions across the Asean manufacturing sector.

In its Global Asean Manufacturing PMI report, S&P Global Market Intelligence said growth was supported by quicker upturns in production levels and new factory orders.