ASEAN manufacturing sees modest uptick in Nov. ’24

The ASEAN manufacturing sector rose slightly in November, with the S&P Global ASEAN Manufacturing Purchasing Managers’ Index (PMI) reaching 50.8. This is the eleventh straight month of improvement and the highest reading in three months.

“However, while firms recorded a fresh rise in purchasing activity to support production requirements, employment fell back into contraction territory for the first time in three months,” according to S&P Global report.

ASEAN manufacturers saw a strong increase in production in November, leading to a rise in the headline index. However, demand slowed, with new orders growing at a marginal rate, the weakest in nine months.

Attribution: S&P Global report

Subediting: M. S. Salama