TOKYO -- Myanmar's manufacturing sector showed solid improvement in April, supported by stronger upturns in output and new orders.
The Nikkei Myanmar Manufacturing Purchasing Managers' Index, or PMI, rose to 53.7 in April from 52.4 in March. This indicated the fastest overall growth in 12 months.
Readings above 50 point to expansion, while those below 50 indicate contraction.
The sector saw greater client demand and subsequent expansion in new orders. New business rose for the sixth consecutive month.
"Manufacturers’ output expectations were among the strongest for two years,” according to Sian Jones, Economist at IHS Markit, which compiles the survey.
Meanwhile, "firms stated that a scarcity of raw materials and strain on supply chain capacity had pushed cost burdens higher," Jones added.
For more information, please visit IHS Markit website.