KUALA LUMPUR, Jan. 2 (Xinhua) -- Malaysia's manufacturing purchasing managers' index (PMI) fell further to 48.6 in December 2024 from 49.2 in November, according to S&P Global on Thursday.

The figure indicates a modest slowdown in the Malaysian manufacturing sector, which was nonetheless the most pronounced since March, S&P Global said in a statement.

The latest data signaled that demand remained subdued while firms scaled back production at a modest rate that was nonetheless the steepest for a year.

The data also suggested Malaysia's gross domestic product (GDP) growth in the final quarter of the year continued, albeit at a slower rate, as well as pointing to sustained year-on-year improvements in official manufacturing production.

Usamah Bhatti, an economist at S&P Global Market Intelligence, noted that further evidence was provided to indicate that conditions are likely to remain muted in the short term.

"Firms opted to work through existing orders in the absence of new order growth, while also scaling back employment, purchases and stock holdings," he added. Enditem

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