Manufacturing PMI in Malaysia remains stable at 49.7 in August

Conditions likely to stay subdued in the short term.

Malaysia's manufacturing sector saw stable conditions in August, with the S&P Global Malaysia Manufacturing Purchasing Managers' Index (PMI) holding steady at 49.7.

S&P Global Market Intelligence reported a slight downturn in the manufacturing sector, indicating that the country's GDP growth remains stable compared to the second quarter. Official manufacturing production data also showed year-on-year improvements.

Economist Usamah Bhatti noted that demand in the manufacturing sector was weak in the third quarter, with moderate declines in production and new orders. The data aligns with Malaysia's GDP growth observed in the second quarter of this year.

Manufacturing firms focused on fulfilling existing orders and reduced their purchases, employment, and stock holdings.

Despite these challenges, firms remained optimistic about future output growth, though uncertainty persists due to potential risks from a slowing global economy.

Bhatti suggested that conditions are likely to stay subdued in the short term.

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