ASEAN manufacturing PMI rises to 51.6 in September

The report noted that rising production requirements affected purchasing decisions.

The ASEAN manufacturing sector showed a slight improvement in September, with the Purchasing Managers’ Index (PMI) rising to 51.6 from 51.0 in August, according to S&P Global.

The latest uptick was encouraged by renewed hiring activity for the first time in seven months.

The report noted that rising production requirements affected purchasing decisions whilst holdings of pre-production inventories remained unchanged.

Meanwhile, postproduction inventories were further depleted, suggesting that companies often utilised stocks to meet demand.

Further, price pressures intensified in September, but the rates of increase remained historically subdued.

Looking ahead to the next 12 months, ASEAN manufacturers expressed optimism regarding output forecasts.