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Economy

Myanmar's PMI retreats into contraction in June

TOKYO -- The Nikkei Myanmar Manufacturing Purchasing Managers' Index, or PMI, showed that the country's economy has retreated into contraction for the first time since December.

The composite indicator of manufacturing performance fell to 49.4 in June from 52.0 in May, the first below-50 reading in six months.

A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

"The overall deterioration in operating conditions was driven by downturns in both output and new orders," said Sian Jones, economist at IHS Markit, which compiles the survey.

The level of employment increased for the sixth straight month, albeit at the slowest pace, Jones added.

(Nikkei)

For more information, visit:

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

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