ASEAN manufacturing contracts in April as output declines sharply
The S&P Global ASEAN Manufacturing PMI fell to 48.7 in April, marking the first contraction since December 2023. Output, new orders, purchasing activity, and employment all declined, while confidence hit a 57-month low. Cost pressures eased, and supply chains slightly improved. Firms remained cautiously optimistic, but sentiment was notably weaker, reflecting growing concerns about future recovery.
The S&P Global ASEAN Manufacturing PMI fell to 48.7 in April, marking the first contraction since December 2023.
Output, new orders, purchasing activity, and employment all declined, while confidence hit a 57-month low.
Cost pressures eased, and supply chains slightly improved.
Firms remained cautiously optimistic, but sentiment was notably weaker, reflecting growing concerns about future recovery.
