TOKYO -- Myanmar's manufacturing sector registered solid improvement in growth during May with quicker expansions in output and new orders, as well as strong client demand.
The Nikkei Myanmar Manufacturing Purchasing Managers' Index, or PMI, rose to 54.2 in May from 53.7 in April, highlighting the greatest improvement in business conditions for the country's goods-producing sector since April 2018.
Readings above 50 point to expansion, while those below 50 indicate contraction.
Goods producers recorded a rapid increase in new business. Survey respondents pointed to greater construction activity and improvements in infrastructure as reasons for higher new order volumes.
"Output and new order growth accelerated as firms stepped up their hiring, increasing workforce numbers at the fastest pace in the series' history," stated to Sian Jones, Economist at IHS Markit, which compiles the survey.
Meanwhile, "Firms also registered a faster rise in cost burdens which was partly passed on to clients through higher factory-gate prices," Jones added.
For more information, please visit IHS Markit website.