Myanmar manufacturing PMI falls sharply in August ’24

Myanmar’s manufacturing sector declined in August 2024, with the S&P Global Myanmar Manufacturing Purchasing Managers’ Index (PMI) dropping to 43.4, the lowest reading this year.

A significant decline in new orders was at the core of the downturn, as rising prices for goods dampened customer demand. Businesses also cited violence within the country and widespread flooding as factors contributing to the drop in demand.

The weakening demand trends, coupled with material shortages, significantly impacted production levels. The reduction in output was the steepest since December 2022, according to the report.

Attribution: The S&P Global Myanmar Manufacturing PMI report

Subediting: M. S. Salama