Myanmar Manufacturing PMI

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The IHS Markit Myanmar Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 450 manufacturing companies. The Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

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The S&P Global Myanmar Manufacturing PMI was up to 49.8 in November 2024 from 48.4 in October. It marked the fifth straight month of contraction in factory activity but the softest pace in the sequence. New orders rose for the first time in five months, boosting output. Meanwhile, buying activity shrank for the 17th month, though at its slowest in six months. Job shedding extended for the 18th month, with the reduction being the sharpest since August. Backlog accumulation stayed sharp but eased to a 15-month low. Vendor performance suffered due to persistent material shortages and challenges in securing import licenses. On the price front, a favorable exchange rate against the US dollar eased some cost pressures from higher raw material and transport costs. Input cost and output prices rose at the slowest pace in 23 and 12 months, respectively. Looking ahead, confidence was neutral, with concerns about future demand trends and ongoing material shortages affecting sentiment.