The manufacturing sector in Malaysia continued to contract in November, and at a faster pace, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 47.9.
That’s down from 48.7 in October, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
In line with the headline figure, there were further signs of waning demand in November with order book volumes losing further momentum. The moderation was the sharpest in 15 months and was driven by muted underlying demand conditions. Malaysian manufacturing firms registered similar trends for international sales volumes. New export orders were scaled back for the fifth time in as many months and at a solid rate.
Meanwhile, output moderated for a fourth month running midway through the final quarter. Survey respondents reported that drops in production levels were reflective of the aforementioned demand conditions.