Wahyu Dwi Anggoro
IDXChannel - The headline S&P Global ASEAN Manufacturing Purchasing Managers’ Index (PMI) printed a 13- month high of 51.7 in May 2024, up from 51.0 in the previous month.
It signals a sustained and stronger improvement in the health of the ASEAN manufacturing sector,
“The ASEAN manufacturing sector signalled strong gains midway through the second quarter. Demand conditions improved as indicated by a solid and quicker rise inincoming new orders, which in turn supported stronger upticks in output, buying activity and pre-production inventories," Maryam Baluch, Economist at S&P Global Market Intelligence said in a media release on Tuesday (4/6/2024).
Looking ahead, ASEAN manufacturing companies remained optimistic about their overall prospects for higher output in the year ahead. Confidence levels strengthened, after having slipped to a nine-month low in April.
"However, firms recorded a slight fall in employment for the second month running," Baluch stated.
