Remained subdued as output slows but relatively stable in September
The Manufacturing Purchasing Managers’ Index (PMI) fell slightly to 49.5 (Aug: 49.7), and below the neutral level for the fourth straight month
- Despite the contraction, the levels indicate a stable manufacturing condition given its proximity to the neutral level of 50.0. September’s performance was largely due to a persistent moderation in production levels amid a subdued new order.
Lower output amid muted domestic demand
- New orders slowed for the third straight month, though the pace of decline eased, suggesting a move toward stabilisation. This was partly offset by rising new export orders, driven by strong demand from Southeast Asia.
- Stocks of purchases and finished goods were reduced as firms remained cautious with inventory amid subdued production.
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