Manufacturing

There are other more powerful forces weighing on the country’s economy

The producer price index rose 4.1% year on year, the highest rate since July 2022

While 75% of production from its Senai facility caters to Malaysia, the remainder will serve other markets

The Institute for Supply Management said on Wednesday (Jul 1) its manufacturing PMI slipped to 53.3 last month from 54.0 in May

This offers some relief for the region’s export-reliant economies

Continuing geopolitical conflict affected energy costs, transport and the procurement of some imported raw materials

Industrial output grew 0.5 per cent, versus the median market forecast for a 1.1 per cent rise

Both manufacturers and service providers were more optimistic about the future

Total industrial production rose 0.1 per cent