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Economy

Myanmar manufacturing PMI down to 52.9 in April

TOKYO -- The Nikkei Myanmar Manufacturing Purchasing Managers' Index, or PMI, fell marginally to 52.9 in April from March's 53.1, which was the highest reading since the survey began in December 2015.

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

"Despite falling short of March's record high, the PMI pointed to another solid upturn amid strong growth of output and new orders," said Sian Jones, economist at IHS Markit, which compiles the survey.

"The sharp fall in backlogs of work was among the most encouraging takeaways from the latest survey, despite strong growth in new business," the economist said. "This suggests goods producers are well placed to accommodate more new work in the coming months."

(Nikkei)

For more information, visit:

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

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