The manufacturing sector in Myanmar continued to contract in January, albeit at a slower pace, the latest survey from Markit Economics revealed on Monday with a seasonally adjusted PMI score of 47.8.
That’s up from 44.7 in December although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, production volumes dropped for the fifth month running in January, although to the weakest extent since the second downturn began in September. Anecdotal evidence mostly cited factory closures and subdued demand conditions.
Supply chain pressures continued to mount at the start of the year with average lead times lengthening for the fifth month running.