TOKYO -- The Nikkei ASEAN Manufacturing Purchasing Managers' Index, or PMI, edged up slightly in October, signalling a mild improvement in the health of the sector.
The composite indicator of manufacturing performance stood at 50.4 in October, up slightly from 50.3 in September.
A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.
"The ASEAN manufacturing economy enjoyed a positive start to the fourth quarter, maintaining the steady momentum seen in recent months," said Bernard Aw, Principal Economist at IHS Markit, which compiles the survey. "PMI data indicated that strengthening demand from abroad was a key source of growth for the sector, contributing to a further rise in overall new business," Aw said.
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