KUALA LUMPUR (Jan 3): The Malaysian manufacturing sector reported a further increase in growth momentum at the end of 2021, as operating conditions improved at the quickest rate since April. The headline IHS Markit Malaysia Manufacturing Purchasing Managers’ Index (PMI) — a composite single-figure indicator of manufacturing performance — rose from 52.3 in November to 52.8 in December, indicating a stronger improvement in the health of the sector. Firms commonly attributed the rise to stronger demand as pandemic restrictions were eased. Despite pressure on capacity, there was a renewed fall in employment at Malaysian manufacturing firms, with producers often noting a lack of foreign work permits being issued due to ongoing border restrictions. IHS Markit economist Usamah Bhatti said the further easing of COVID-19 restrictions alleviated pressures faced by the Malaysian manufacturing sector and provided momentum to growth in December.

Source: The Edge Markets January 03, 2022 12:53 UTC