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Economy

Myanmar PMI drops to 49.1 in July

TOKYO -- The Nikkei Myanmar Manufacturing Purchasing Managers' Index, or PMI, fell to 49.1 in July from 49.4 in June with further declines in output and new orders.

A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction. The latest data marked the second consecutive month of contraction.

"Panelists largely cited that the downturn was due to lower client demand and increased competition," said Sian Jones, economist at IHS Markit, which compiles the survey.

Meanwhile, employment in the sector contracted for the first time this year so far which was "linked to the decrease in production," the economist added.

(Nikkei)

For more information, visit: 

http://www.markiteconomics.com/Survey/Page.mvc/PressReleases

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