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Sunday, November 24, 2024

Home Business Malaysia’s manufacturing sector growth eases in August

Malaysia’s manufacturing sector growth eases in August

by News desk
September 2, 2022
in Business

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The Malaysian manufacturing sector reported a moderation in growth momentum midway through the third quarter of 2022, according to S&P Global on Thursday.

The seasonally adjusted manufacturing Purchasing Managers’ Index (PMI) slipped to 50.3 in August from 50.6 in July, indicating a softer improvement in the health of the sector, S&P Global said in a statement.

The latest reading is representative of a gradual slowdown in growth of manufacturing production and gross domestic product (GDP) towards the end of the third quarter, following sustained rises throughout the second quarter of the year.—Xinhua