PMI drops to five-month low
Published on: Friday, December 02, 2016
Kuala Lumpur: The headline Nikkei Malaysia Manufacturing Purchasing Managers' Index (PMI) dropped to a five-month low of 47.1 in November, signalling a slower pace in Malaysia's manufacturing operations. The index is an indicator of the manufacturing's sector performance, whereby any figure greater than 50.0, showed an overall improvement in the sector's operating conditions.IHS Markit, a leader in global information and analysis, said manufacturers were optimistic of their hiring policies with employment growth at a 13-month high.ADVERTISEMENT Stay up-to-date by following Daily Express’s Telegram channel.
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Job creation, on the other hand, rose at a fastest pace over a year while cost accelerated due to higher raw material prices stemming from unfavourable exchange rates and greater labour cost. Subsequently, producers passed on some of their costs to clients, it added. – Bernama