Original title: ASEAN manufacturing industry shrinks for three months, the Purchasing Managers Index fell to 44.5 Source: CCTV News Client
According to a report by Singapore’s Lianhe Zaobao on September 1, the financial information company Esson Huamai released a research report that day, saying that the new crown epidemic has rebounded in various places and the epidemic prevention measures have not been lifted, causing the ASEAN manufacturing industry to shrink for three months. Manufacturing in August Industry Purchasing Managers Index (PMI) fell 0.1 to 44.5.
The report shows that Singapore, which has grown strongly in the past few months, reversed its expansion in the previous month. PMI fell from 56.3 in July, a new high in the past eight years, to 44.3, falling into a state of contraction. This is the first time that the seven major manufacturing countries of ASEAN have fallen into a state of contraction together since May last year.
The report pointed out that in the case of a sharp drop in factory output and new orders, operating conditions have also deteriorated significantly, making manufacturers’ sentiment about the output prospects of the next year into a 13-month low.
In the past few months, the new crown epidemic has rebounded in ASEAN countries, and the number of confirmed cases and deaths has increased. This has put tremendous pressure on the medical system. Coupled with the slow progress of vaccination, many countries have been forced to take restrictive measures again, severely hitting the economic recovery.
A PMI above 50 indicates that economic activity is expanding, and a PMI below 50 indicates that the economy is shrinking. (Headquarters reporter Deng Xuemei)
(Edited by Chen Yufan)
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