Myanmar’s manufacturing PMI rises in January
The Nikkei Myanmar Manufacturing Purchasing Managers’ Index, also known as PMI, increased to 51.7 in January from December’s 49.4, reported the Nikkei Asian Review. The January’s PMI is the highest reading in 12 months. A reading above 50 signals an improvement in economic conditions, while a reading under 50 indicates economic contraction.
January’s PMI rise was supported by growth in output, new orders and employment, reported the Nikkei.
The panel firms linked the rise in production with the introduction of new machinery, according to IHS Markit, which compiled the survey.