S&P Global: Malaysia’s manufacturing PMI fell to 49.9 in May from April’s 51.6, signalling broadly unchanged staffing as hiring paused after two months of job creation. Layoffs, resignations and labour sourcing issues offset payroll gains. New orders and exports softened (exports down for a third month), and production moderated after two months of increases. Firms used spare capacity to work through backlogs (modest depletion). Input costs rose sharply, but selling-price inflation eased from April’s peak. Confidence ticked up for the first time in four months. Economist Maryam Baluch said sluggish demand led to the moderation in operating conditions.
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