The manufacturing sector in Malaysia fell into contraction in January, the latest survey from S&P Global showed on Monday with a manufacturing PMI score of 49.3.
That’s down from 50.2 in January, and it falls beneath the boom-of-bust line of 50 that separates expansion from contraction.
The moderation in business conditions reflected a renewed slowing in new orders which followed a stable picture in the month prior. The drop in total new sales came despite new export orders growing for a second straight month, albeit the pace of increase here softening on the month.
According to panelists, the moderation in total new order book volumes stemmed from sluggish market conditions. Fewer new orders was frequently cited by respondents as a key reason for a fresh slowdown in production. The rate of moderation in output was modest but the most marked in four months.
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