KUALA LUMPUR: The seasonally adjusted S&P Global Malaysia Manufacturing purchasing managers’ index (PMI) edged down to 49.8 in September from 49.9 in August, to signal broadly unchanged operating conditions.
S&P Global said firms recorded a sustained rise in new orders but a renewed slowdown in production.
Nonetheless, while the rate of growth in sales was only marginal, "September marked the first time since June 2024 that new orders had risen in consecutive months,” it said in a statement today.
"Firms were also buoyed by a softer rise in operating expenses, with input price inflation at a five-month low amid softer raw material price pressure,” it said.
The latest data also suggested that gross domestic product (GDP) growth in the third quarter had ticked up slightly from that seen in the previous quarter, pointing to sustained year-on-year improvements in official manufacturing production data.
Sentiment in the Malaysian manufacturing sector was positive in September. Hopes of stronger demand conditions and new product launches underpinned predictions of output growth in the coming year, it said.
S&P Global Market Intelligence economist Usamah Bhatti said: "September brought with it back-to-back increases in new order intakes, the first instance of this in over a year.
"This was caveated by a renewed, albeit fractional moderation in production volumes. That said, the data indicated that GDP growth is likely to have picked up slightly in the third quarter,” he added. - Bernama
