The seasonally adjusted S&P Global Malaysia Manufacturing Purchasing Managers’ Index (PMI) was unchanged at 46.8 in October, signaling an easing of business conditions for the 14th consecutive month.
S&P Global Market Intelligence said in a statement on Wednesday that Malaysian manufacturers experienced a challenging business environment again at the start of the final quarter of 2023 as demand conditions continued to wane. According to S&P, the historical relationship between the PMI and official gross domestic product (GDP) data suggests that Malaysia’s GDP is still set to improve modestly as it moves into the final quarter of the year.—APP
