Jakarta: The latest IHS Markit Purchasing Managers’ Index (PMI™) data signalled a further deterioration in conditions across the ASEAN manufacturing sector in July.
The headline PMI sunk to a 13-month low of 44.6 in July, noticeably further into contraction territory than June's reading of 49.0.
Moreover, the latest figure signalled the fifth quickestdeterioration in the health of the sector on record, and one that was sharp overall.
Across the seven constituent ASEAN nations, five saw business conditions decline during July.
The most severe rate of contraction was registered in Myanmar, where the headline PMI shed a notable eight points on the month as businesses were again forced to close due to rising virus case numbers. Moreover, the latest reading (33.5) was the lowest since April and signalled a rapid decline in conditions.
Indonesia too saw a severe rate of contraction in July, the headline figure dropped markedly from 53.5 in June to 40.1, pointing to the first deterioration in the health of the sector since last October, and one that was the steepest for 13 months.
Meanwhile, Malaysia's headline figure (40.1) was little-changed on the month and indicative of second straight monthly decline in manufacturing conditions, with the rate of reduction marked and among the quickest on record.
At the same time, Vietnam recorded a slightly reduced rate of deterioration in July. Although, at 45.1, the headline PMI still signalled a sharp rate of contraction overall.
Thailand was the only other monitored nation to record a deterioration in manufacturing conditions during July. Here, the headline index (48.7) dipped slightly on the month, and indicated only a marginal rate of decline.
Positive news came from the Philippines and Singapore during July. In the former, growth continued for a second straight month, albeit at only a fractional pace (PMI: 50.4), while Singapore’s manufacturing sector recorded a notable rebound, with the headline figure rising above the 50.0 mark in July to 56.3, and signalling the sharpest improvement in manufacturing conditions since May 2013.
"Divergence at the country level was again notable, as five of the seven constituent nations recorded a contraction in July, the most substantial of which were in Myanmar, Malaysia and Indonesia," said IHS Markit Economist Lewis Cooper in a press release on Monday.
Overall, goods producers remained upbeat with regards to output over the next year during July. The level of positive sentiment hit a three-month high, although remained subdued in the context of historical data.
Cek Berita dan Artikel yang lain di Google News
FOLLOW US
Ikuti media sosial medcom.id dan dapatkan berbagai keuntungan
