A brief respite in February amid trade risks
The Manufacturing Purchasing Managers' Index (PMI) inched up to 49.7 (Jan: 48.7), a six-month high but still in contraction
- Nevertheless, the latest reading indicates that the index is moving towards stabilisation, supported by rising new orders and improved confidence.
Production remains weak, but domestic demand provides some support
- New orders rose for the first time since October last year thanks to improved domestic demand. However, some companies reported that client confidence remained weak.
- Export orders fell for the third straight month due to subdued demand from the Asia-Pacific region.
- Production declined for the ninth straight month, leading to lower purchasing activity, input stocks and inventories.
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