The Purchasing Managers’ Index (PMI) provides a fast snapshot of a rustic’s manufacturing situation by tracking variables reminiscent of sales, employment, inventories and costs.
“Manufacturing conditions in ASEAN improved at a faster pace in August, with growth in output and new orders gaining momentum. Employment growth was also stronger,” said Bernard Aw, chief economist at IHS Markit.
“ASEAN manufacturers continue to face rising cost burdens, particularly in countries with weaker exchange rates against the dollar, such as Myanmar, Indonesia and the Philippines,” said Aw of IHS Markit.
“All these challenges raise questions about whether the economic recovery in August will be sustainable in the coming months,” Aw added.
Below is the total data for August, as released by IHS Markit in its monthly report for Nikkei, Inc.:
Based on the above data, PhilSTAR provides the next details on this topic:
1. The Philippines shared second place with Indonesia as output growth in Southeast Asia gained momentum midway through the third quarter.
2. Behind the Philippines and Indonesia was Malaysia, which recorded a “modest” increase of 51.2.
3. Thailand got here in fifth with a “slight” drop of 49.9, followed by Singapore with a rating of 48.5, a “modest” drop.
4. Myanmar, which recorded a “solid” drop of 46.4, fell to the underside of the seven-country Southeast Asian country rankings, indicating a deterioration within the country’s manufacturing sector.
