S&P Global Market Intelligence: PMI data signalling modest growth in July across Asean firms

KUALA LUMPUR, Aug 2 — The Purchasing Managers’ Index data for July 2022 signalled yet another modest improvement in operating conditions across the Asean manufacturing sector, with PMI reading for Malaysia hitting a three-month high in July.

Chief business economist Chris Williamson said business conditions are improving but remain tough, with firms struggling against headwinds of falling export demand, persistent supply constraints and rising prices. “A major uncertainty remains in the path of global demand, as recession risks have intensified in the United States and Europe, which could severely limit any export-derived growth,” he said.

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