Manufacturing PMI rises to 50.2 in May 2024

S&P Global said the latest PMI reading suggested that gross domestic product growth is running at a slightly improved rate than that seen in the first quarter of 2024.

KUALA LUMPUR: The seasonally adjusted S&P Global Malaysia manufacturing purchasing managers’ index (PMI) rose to 50.2 in May 2024 from 49 in April 2024, signalling a renewed improvement in manufacturing sector conditions following 20 months of moderation.

“The latest PMI reading suggested that gross domestic product (GDP) growth is running at a slightly improved rate than that seen in the first quarter of 2024, as well as pointing to modest year-on-year (y-o-y) improvements in official manufacturing production data,” S&P Global said in a statement yesterday.