S&P PMI: ASEAN manufacturing sector slightly down in August ’24

The ASEAN manufacturing sector improved slightly in the middle of the third quarter. Meanwhile, S&P Global ASEAN Manufacturing Purchasing Managers’ Index (PMI) fell to 51.1 in August from 51.6 in July.

The cooling growth was attributed to weaker expansions in both output and new orders. Notably, new export sales continued their decline, impacting the growth of new orders.

August’s performance saw a reduction in inflationary pressures, with both cost burdens and selling prices rising at slower rates compared to their respective series averages.

Attribution: S&P Global ASEAN Manufacturing PMI report

Subediting: M. S. Salama