The S&P Global survey found that the ASEAN manufacturing sector signaled weak demand as new orders fell at their sharpest pace since August 2021. Output, new orders, employment and raw material inventories all declined in May. Vendor performance also deteriorated; input delivery times lengthened. This was the second consecutive month that the PMI fell below 50, reaching 49.2 points (April was 48.7 points).
Input price inflation eased to a five-year low, S&P Global noted. Output prices rose more slowly than input costs, and output price inflation accelerated only marginally. However, ASEAN manufacturers were slightly more upbeat about their output outlook for next year, despite the weak performance of the sector, but confidence remained below historical levels and the second lowest since July 2020.
“ASEAN manufacturing continued to face challenges midway through the second quarter, with operating conditions deteriorating further,” said Maryam Baluch, economist at S&P Global Market Intelligence. “While the decline was milder this quarter – partly due to lower declines in output, employment and purchasing activity – the decline in new orders was sharper. This marked decline, coupled with the generally lower levels of optimism among panellists, suggests that the manufacturing sector is likely to continue to struggle to grow in the year ahead.”
G. PROTECTION
Source: https://baocantho.com.vn/so-luong-don-dat-hang-moi-giam-manh-nganh-san-xuat-asean-tiep-tuc-kho-a187148.html
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