Feb manufacturing PMI up in China, down in Malaysia and S Korea

According to the data released by Markit IHS, the manufacturing sector in China continued to grow in February. Accordingly, the country’s manufacturing PMI stood at 51.6 in February, up from 51.3 in January and the estimates of 51.2. The rise in the country’s manufacturing sector was mainly driven by higher sales prices and construction boom.

However, the manufacturing sector in Malaysia continued to shrink in February with a PMI score of 49.4. Although the score was up from 48.6 in January and the manufacturing output expanded for the first time in 23 years, it still stood below the 50 threshold, which separates expansion from contraction. The contraction was attributed to the decrease in new orders and hiring.

Similarly, the manufacturing sector in South Korea contracted in February, but at a slower pace than in January. Accordingly, the country’s manufacturing PMI was at 49.2 after a reading of 49.0 in January. The contraction in the country’s manufacturing sector was mainly driven by the decrease in production, new orders and employment.