ASEAN Manufacturing Output Grows at Quickest Pace Since June

Manufacturing output in seven key economies in ASEAN grew in November
at its quickest pace since June this year, according to the headline Nikkei
ASEAN Manufacturing Purchasing Managers’ Index (PMI) compiled by IHS
Markit.

The ASEAN Manufacturing PMI is produced by IHS Markit and is based on
original survey data collected from around 2,100 manufacturing firms
from Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand,
and Vietnam. Taken together, those seven countries account for an
estimated 98 percent of manufacturing activity in the ASEAN bloc.

Operating conditions in the manufacturing sector across ASEAN improved
slightly in November, with the headline PMI rising from 49.8 in October to
50.4 in November.

Manufacturing production increased at its fastest pace since June this
year, with five of the seven ASEAN economies improving their production
levels.

Notably, Vietnam’s manufacturing sector grew the most during November,
booking its sharpest growth in output in more than seven years. Vietnam
was followed by the Philippines, which recorded a solid expansion rate
similar to the one booked in October, according to the ASEAN
Manufacturing PMI.

In November, manufacturers in ASEAN raised their purchasing activity for
the first time in three months, as output growth improved, with
purchasing activity in Vietnam and the Philippines surging.

In terms of expectations for the future, the ASEAN Manufacturing PMI
showed that the business outlook of manufacturing companies across the
ASEAN bloc improved in November to a six-month high. The
manufacturing businesses in Vietnam and Thailand expressed the highest
positive sentiment since February and March 2016, respectively.