The November PMI of 47.1, while little changed from October’s reading, was lower than the series’ average and signalled deterioration in manufacturing conditions, said IHS Markit. Underpinning the drop in output, new orders contracted at the sharpest rate in the series’ history,” said IHS Markit. As well as unstable market conditions, firms commented on a lack of new product initiatives leading to the drop in total sales, it said. “Total new orders contracted at the sharpest rate in the series’ history, driven partly by a fall in international demand. The Nikkei Malaysia Manufacturing PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives of over 450 industrial companies.

Source: The Edge Markets December 02, 2016 00:36 UTC