Asean manufacturers see improved conditions

Asean manufacturers see improved conditions

02 Mar 2022

Asean manufacturers saw an improvement in business conditions last month, according to IHS Markit Purchasing Managers’ Index (PMI) data.

The latest survey results showed demand continued to rebound, as order book volumes rose at the fastest pace since October last year, with factory production expanding solidly as a result. At the same time, inflationary pressures remained elevated.

Input costs rose steeply, albeit at the slowest pace for five months, while goods producers raised their charges at the quickest rate on record. At 52.5 in February, the headline PMI pointed to a fifth successive monthly improvement in the health of the Asean manufacturing sector.The latest figure was little-changed from January’s reading of 52.7 and remained among the highest on record. Manufacturing conditions improved in six of the seven constituent Asean nations in February.

or the third month running, Singapore registered the highest headline figure, which at 58.3 in February, signalled the quickest upturn in the health of the manufacturing sector on record.

Second in the rankings was Vietnam, where business conditions improved at the fastest pace since last April (PMI at 54.3).

The Philippines registered a return to expansion territory midway through the first quarter of 2022. The headline Index rose from 50.0 in January to 52.8 in February, indicative of a marginal improvement in the health of the sector.

Growth also accelerated in Thailand, with the headline PMI hitting a fresh series high of 52.5 and signalling a strong overall upturn.

Meanwhile, Malaysia too saw an accelerated pace of growth during February, although at 50.9, the headline figure pointed to only a mild improvement in conditions overall.Indonesia was the only nation to record a slower pace of improvement in manufacturing conditions during February.

Source: The Star