KUALA LUMPUR, July 1 (Xinhua) -- Malaysia's Manufacturing Purchasing Managers Index (PMI), a composite single-figure indicator of manufacturing performance, moderated to 47.8 in June from 48.8 in May.
IHS Markit who conducted the survey said in a statement, the survey data showed that Malaysia's manufacturing sector faced further challenges, with demand conditions softening, while fewer new orders from international clients also weighed on production volumes.
However, companies anticipate that current difficulties will be short-lived, as business confidence about the outlook strengthened to its highest since October 2013.
"The PMI is indicative of manufacturing helping drive a rebound in the annual pace of economic growth from the slowdown to 4.5 percent seen in the first quarter, albeit likely remaining below 5 percent in the second quarter," IHS Markit chief business economist Chris Williamson commented.
