TOKYO - Manufacturing in ASEAN economies improved slightly in April due to an increase of new orders and higher output, according to a survey.
The Nikkei ASEAN Manufacturing Manager's Index, or PMI, rose from 50.3 in March to 50.4 in April, marking five-month high.
A reading above 50 indicates an expansion while a reading below 50 points to a contraction.
The growth was supported by a rise in new orders and output. Myanmar continued to log the strongest rate of expansion, at 53.7, followed by Vietnam and Thailand. The weakest reading was Singapore at 47.3.
The reading indicates "another subdued expansion in the manufacturing sector," said David Owen, Economist at IHS Markit,which complies the survey. While output grew, "the rise was still weaker than those seen at the end of last year," he added.
For more information,visit IHS Markit website.