May 2017, ASEAN Manufacturing Loses Growth Momentum

Economics & Macro

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05/06/2017 10:40 WIB

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Manufacturing activity in the six ASEAN countries (ASEAN 6) lost growth momentum in May 2017, recording its first decline of the year. Of the six ASEAN countries, only the Philippines saw its Purchasing Manager’s Index (PMI) rise. As a result, the ASEAN PMI fell to 50.5 in May 2017, down from 50.9 the previous month.

Slower growth in production and new orders over the past three months led to the first decline in ASEAN manufacturing activity this year. IHS Markit economist Bernard Aw stated that after a strong performance at the beginning of the second quarter (April) 2017, ASEAN manufacturing activity declined. Slowing domestic demand caused manufacturing growth in five ASEAN countries to fall. Activity in three countries—Thailand, Malaysia, and Singapore—even contracted.

The PMI is an indicator used to measure economic development in the industrial sector from the perspective of purchasing managers. A reading above 50 indicates expansion, while a reading below 50 indicates contraction.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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May 2017, ASEAN Manufacturing Loses Growth Momentum

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May 2017, ASEAN Manufacturing Loses Growth Momentum

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