Source: Xinhua | 2021-11-09 | Editor:Ines
The headline IHS Markit Malaysia Manufacturing Purchasing Managers' Index (PMI) rose to 52.2 in October from 48.1 in September, the strongest expansion in the health of the Malaysian manufacturing sector since April, said IHS Markit Monday.
The Malaysian manufacturing sector saw growth return at the start of the fourth quarter of 2021, as the lifting of COVID-19 restrictions contributed to the strongest expansion in new orders since April and the first rise in production in six months, the London-based global information provider said in a statement.
"Manufacturers commonly noted that sustained supply chain disruptions and delivery delays had held back a stronger recovery, while material and container shortages led to a sharp acceleration in cost inflation. As a result, firms increased their output charges at the quickest pace since April," it said.
Nonetheless, manufacturers maintained an optimistic outlook for activity over the coming 12 months, it added.
Looking at the historical relationship between official statistics and the PMI, the latest reading is representative of a renewed uplift in industrial production and gross domestic product, as the economy recovers from the latest wave of virus infections.
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