No change in December as manufacturing activity languish on weak demand
The Manufacturing Purchasing Managers’ Index (PMI) remained unchanged in December at 47.9 (Nov: 47.9), due to muted demand conditions
- The index remained in contraction (below the neutral threshold of 50.0) since August 2022, with the ongoing slowdown attributed to subdued demand from domestic and international markets amid weak consumer confidence.
Productions were scaled back for the 17th straight month on weak demand
- New businesses moderated for 16th consecutive month, but the pace was slightly lower than the previous month.
- New exports orders fell for eight consecutive months but the pace of decline at the softest rate since May.
- Purchasing activity was scaled back, as weak demand deterred firms from purchasing additional inputs. This in turn decreased stocks of purchased.
Download Full Content:
