Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ASIA
The Asian S&P Global manufacturing PMIs for September were mixed but generally deteriorated and the ASEAN aggregate fell into contractionary territory at 49.6 from 51 for the first time in over 2 years. Business confidence is also subdued. Indonesia continues to show the strongest manufacturing growth in the region. The Bank of Thailand is the last major Asian central bank to continue hiking rates but with output falling more sharply in the latest month, pressure is building for a pause.
- Indonesia’s September manufacturing PMI eased to 52.3 from 53.9, as demand and employment continued to rise. Importantly the growth in new orders picked up. There was an increase in input cost inflation due to transport and raw materials and some of this was passed on in selling prices, but both remain subdued and below average.
- Thailand’s manufacturing PMI fell further to 47.8 from 48.9, the fifth straight monthly fall, indicating the slowest output growth since May 2021. New orders fell at their fastest pace since mid-2020 with both domestic and foreign demand weak. Employment continued to decline too. Business confidence improved though to its highest in four months, according to S&P Global. Cost and selling price pressures were subdued.
- Malaysia and Vietnam saw deteriorations in their indices at 46.8 from 47.8 and 49.7 from 50.5 respectively. The Philippines bucked the trend rising to 50.6 from 49.7.
- Taiwan’s PMI showed a smaller decline in manufacturing in September rising to 46.4 from 44.3.
- See ASEAN PMI press release here.
ASEAN S&P Global manufacturing PMIs
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok