Malaysia's manufacturing PMI slips in April
S&P Global Market Intelligence said in a note on Friday that the PMI signaled a modest weakening in the health of the Malaysian manufacturing sector, which was nonetheless the most pronounced in 2025 so far.
That said, given the historical relationship between the PMI and official data, the latest data suggest that gross domestic product (GDP) growth continued as the second quarter of the year got underway, while also pointing to sustained year-on-year improvements in official manufacturing production.
"PMI data for the start of the second quarter of 2025 suggest that demand conditions in the Malaysian manufacturing sector remained subdued during April, as production and new order inflows continued to moderate. That said, the data are still consistent with the GDP growth observed in the final quarter of last year continuing," said S&P Global Market Intelligence economist Usamah Bhatti.
According to him, further evidence indicates that conditions are likely to remain muted in the short- and medium-term.
He noted that firms opted to work through existing orders in the absence of new order growth while also scaling back employment, purchases, and stock holdings.
"Inflationary pressures trended downwards once again in April, with average cost burdens rising only mildly, which contributed to a further fractional reduction in charges. However, this was not enough to improve confidence regarding the outlook, as the overall degree of optimism slipped to its lowest level since July 2023," he says, adding that firms expressed concerns about the potential adverse impacts of a muted global economy and U.S. tariffs.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
11 minutes ago
- The Star
Kazakhstan's crude oil output, exports rise in first half of 2025
ALMATY, July 15 (Xinhua) -- Kazakhstan's crude oil output in the first half of 2025 rose 11.6 percent year on year to 49.9 million tonnes, Kazinform news agency reported Tuesday. Kazakhstan's Energy Minister Yerlan Akkenzhenov said at a government briefing that the country's oil exports rose 11.9 percent in the same period to 39.6 million tonnes, and the export target for the full year is 70.5 million tonnes. Prime Minister Olzhas Bektenov reaffirmed Kazakhstan's commitment to the Organization of the Petroleum Exporting Countries and its partners (OPEC+), saying the country is doing its best to meet its obligations under the voluntary output agreement. However, Bektenov acknowledged that Kazakhstan had faced temporary difficulties in meeting production quotas due to an ongoing expansion project at the Tengiz oil field, the country's largest oil field. Once the project is completed, Kazakhstan will raise its projected obligations, he said. According to the Energy Ministry, Kazakhstan supplied 1.86 million barrels of crude oil per day in June, up from 1.78 million barrels in May and staying above its voluntary OPEC+ quota.
The Star
an hour ago
- The Star
Trump says 19 percent tariff to be charged on Indonesian goods
NEW YORK, July 15 (Xinhua) -- U.S. President Donald Trump announced Tuesday that a 19 percent tariff will be imposed on imports from Indonesia while the United States will pay nothing, local media reported. He also said the United States will have full access to Indonesia. Earlier in the day, Trump said on his social media platform, Truth Social: "Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President."
The Star
an hour ago
- The Star
Global merchandise trade surges in Q1, slowdown expected: WTO
GENEVA, July 15 (Xinhua) -- Global merchandise trade volume posted strong growth in the first quarter of 2025, but the pace of expansion is expected to slow later in the year, the World Trade Organization (WTO) said on Tuesday. According to the latest data released by the WTO, the volume of world merchandise trade rose by 3.6 percent quarter-on-quarter and 5.3 percent year-on-year in the first quarter, driven largely by a surge in imports in North America in anticipation of higher tariffs in the United States. However, WTO economists expect the growth momentum to ease in the coming months as fully stocked inventories and increased tariffs begin to weigh on import demand. In its Global Trade Outlook and Statistics report released in April, the WTO forecast a 0.2 percent decline in global merchandise trade volume for 2025, warning of serious downside risks stemming from the reintroduction of U.S. "reciprocal tariffs" and spillovers from trade policy uncertainty. Tuesday's data revealed notable regional disparities in trade performance during the first quarter, particularly on the import side. North America recorded the strongest quarter-on-quarter import growth of any region at 13.4 percent, followed by Africa at 5.1 percent, the WTO said. On the export side, the Middle East led with 6.3 percent quarter-on-quarter growth, followed by Asia at 5.6 percent. In terms of product categories, trade in office and telecom equipment posted the highest year-on-year growth at 16 percent, followed by chemicals at 12 percent, and clothing at 7 percent. In contrast, trade in automotive products, fuels and mining products, and iron and steel declined. The WTO also noted signs of a slowdown in import activity in the second quarter. While U.S. imports surged 25 percent year-on-year in the first quarter, growth slowed dramatically to just 1 percent in the first two months of the second quarter.
