ASEAN manufacturing deteriorates for 4th straight month in September
Although the latest headline PMI figure rose from 48.9 in August to 49.1 in September, it still marked the second-lowest since November 2015.
The marginal deterioration in the health of the ASEAN manufacturing sector was largely attributed to lower production, which deteriorated at the fastest rate since July 2017. A back-to-back fall in new business also weighed on the monthly index.
Myanmar reported the strongest performance across the region and the headline index for the Philippines signaled a moderate improvement in the health of the manufacturing sector. Thailand and Vietnam also saw an improvement in their operating conditions in September.
On the other hand, Indonesia posted its second-lowest headline PMI figure since July 2017 and Malaysia’s operating conditions deteriorated at a moderate pace. Singapore’s manufacturing sector took a sharp downturn, with its headline reading reaching an all-time low.
Order book volumes and foreign demand continued to fall and purchasing activity declined in line with weaker demand conditions. The level of positive sentiment in the overall ASEAN manufacturing sector also fell to its lowest in six months.
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