The manufacturing sector in Myanmar continued to contract in February, and at a much faster pace, the latest survey from Markit Economics showed on Monday with a record-low manufacturing PMI score of 27.7.
That’s down sharply from 47.8 in January and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, output and new order volumes contracted at the sharpest rate on record as the state of emergency imposed on 1 February contributed to a seize-up in factory operations and demand.
Firms reported lower intakes of new orders during the month, with firms reporting client business closures.
The material has been provided by InstaForex Company – www.instaforex.com