The manufacturing sector in Malaysia continued to contract in October, and at a steady pace, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 46.8.
That’s unchanged from the September reading, and it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
The historical relationship between the PMI and official GDP data suggests that GDP is still set to improve modestly as we move into the final quarter of the year. Looking at official data on manufacturing production, however, the PMI readings are indicative of a stagnation on a year-on-year basis.
The latest PMI survey pointed to a further moderation of manufacturing output, the fifteenth in as many months. The pace at which production eased was marked and the fastest since January.