TOKYO -- Myanmar manufacturing sector remained in contraction for the fourth straight month, even though the pace of contraction is easing, a survey showed Thursday.
The Nikkei Myanmar Manufacturing Purchasing Managers' Index, or PMI, stood at 48.0 in October, compared with 47.5 in September. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.
"October data continued to signal difficulties across the Myanmar manufacturing sector," said Sian Jones, economist at IHS Markit, which compiles the survey. "Further contractions in output and new orders reflected sustained weaknesses in demand," she said.
She noted that price pressures remain intense. "Some firms stated that factory gate price rises had damaged competitiveness and reduced client demand."
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