ASEAN manufacturing PMI falls in May
The Philippines became the best performer in May outpacing Vietnam and the only country, operating conditions of which improved at a faster pace. Vietnam’s operating conditions posted a significant decrease in May and fell behind Myanmar.
Indonesia, Thailand, Malaysia and Singapore’s manufacturing sectors showed signals of deterioration again after posting visible growth in April.
The slowdown in the growth of total new business caused production activity to decrease to the weakest level seen since February.
Although the growth in new orders slowed down, ASEAN factories increased their buying activity for the fourth month in a row and delivery times worsened again, albeit at a slower pace. However, increased buying activity did not help inventories to build up.
ASEAN countries include Indonesia, Malaysia, Vietnam, the Philippines, Thailand, Singapore, Myanmar, Laos, Cambodia and Brunei.
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