TOKYO -- The Nikkei Myanmar Manufacturing Purchasing Managers' Index, or PMI, improved to 53.7 in March from 52.6 in February. The reading was the highest since the survey began in December 2015.
A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction. The overall upturn was supported by steep increases in output and new orders, with both rates of growth reaching series peaks.
"Although backlogs contracted strongly, manufacturing employment continued to rise with the rate of job creation accelerating to the fastest in ten months," said Sian Jones, economist at IHS Markit, which compiles the survey.
IHS Markit currently sees year-on-year GDP growth of 7.6% in 2018 for Myanmar. "In contrast, business confidence towards the year ahead output outlook remained muted in the context of the short series history," Jones noted.
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