The headline PMI posted 51.7 in March, down from 52.5 registered in February. (Photo:
The headline PMI posted 51.7 in March, down from 52.5 registered in February. (Photo:

ASEAN Manufacturing Sector Improves Modestly in March: S&P Global

English asean manufacturing indonesian economy
Wahyu Dwi Anggoro • 01 April 2022 13:53
Jakarta: Operating conditions across the ASEAN manufacturing sector improved modestly in March, thereby extending the current sequence of expansion to six months, according to the latest S&P Global Purchasing Managers’ Index™ (PMI™). 
The headline PMI posted 51.7 in March, down from 52.5 registered in February. 
The latest data indicated a loss of growth momentum as the pace of improvement in the health of the ASEAN manufacturing sector slowed for the second month in a row, and was the softest for six months.

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"The headline PMI figure signalled a loss of growth momentum in the ASEAN manufacturing sector, as output and new order expansions softened," S&P Global Economist Maryam Baluch said in a media release on Friday.
Five of the seven constituent ASEAN nations registered growth in March, with Singapore yet again leading the upturn. Although the headline PMI for Singapore (55.0) posted below the recordhigh figure seen in February, the latest reading signalled another sharp expansion at manufacturers. 
At the same time, goods producers in the Philippines registered the second-fastest upturn, as the headline PMI posted at 53.2. Moreover, the latest improvement in operating conditions was the fastest in over three years.
In other nations, growth was more subdued. Thailand and Vietnam both saw the headline PMI figure (51.8 and 51.7, respectively) slide from the recent highs recorded in February. That said, Thai goods producers registered the second-fastest upturn since the series began in December 2015.
Indonesia signalled a rate of expansion broadly in line with February’s six-month low in March. The headline PMI, at 51.3, indicated only a marginal upturn in the health of the Indonesian manufacturing sector.
The only two countries that saw their manufacturing sectors contract in March were Malaysia and Myanmar. Ending a fivemonth sequence of expansion, the headline PMI in Malaysia dropped to 49.6. Myanmar, on the other hand, indicated a sharper decline as the headline PMI figure (47.1) fell at a quicker rate for the third month running.

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