ASEAN manufacturing PMI slightly up in November

According to the Nikkei Manufacturing Purchasing Managers’ Index (PMI), the manufacturing PMI in ASEAN countries rose to 50.8 in November from 50.4 in October. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

The Philippines’ PMI increased to 54.8 and became the best performer in November while Malaysia outpaced Myanmar as its growth rebounded after a decline in November.

Vietnam, meanwhile, fell to the fourth place due to its slower growth in the manufacturing sector. Indonesia’s manufacturing growth posted a slight increase while Thailand’s operating conditions remained stable on the month.

On the other hand, Singapore’s PMI declined to 47.4 and slid into contraction.

However, the overall growth in ASEAN manufacturing output increased its pace and production outlook improved in November, despite higher inflationary pressures in the region.