Myanmar Manufacturing PMI2016-2021 Data | 2022-2023 Forecast | Calendar

The IHS Markit Myanmar Manufacturing PMI fell to a fresh record low of 27.5 in March 2021 from 27.7 a month earlier, amid a deepening political turmoil following a military-staged coup that led to nation-wide protests and factory closures. Both output and new orders shrank at rapid rates, while workforce numbers were at a near-record decline as employees returned to their hometowns. Backlogs of work, meantime, rose at the fastest rate in the survey history. Protests added to supply chain disruption, with vendor performance deteriorating solidly. Prices data showed input prices rose for the sixth month in a row due to material shortages, and higher transportation costs. Selling prices rose modestly as the firm's ability to pass on cost was limited on the back of weak overall demand. Looking ahead, confidence moderated to the lowest since last September and was far below the long-run series average.

The IHS Markit Myanmar Manufacturing PMI plunged to a record low of 27.7 in February 2021 from 47.8 in January, as political uncertainty following a military-staged coup led to factory closures. Output, new orders, purchasing, and stocks of both inputs and finished goods all contracted at fresh record rates as demand evaporated. Employment also shrank, with the rate of the drop being the third-fastest rate on record, while the accumulation of incomplete work went up modestly. Vendor performance deteriorated to be among the worst recorded in any month since the survey began. On the price front, material shortages and unfavorable exchange rate movements inflated the cost of raw materials. Firms passed on cost burdens by increasing their selling prices, albeit only marginally. Lastly, the degree of optimism eased from January’s 11-month high to the weakest in five months.

The IHS Markit Myanmar Manufacturing PMI went up to 47.8 in January 2021 from 44.7 a month earlier. This was the softest pace of contraction in factory activity since an expansion in August 2020, amid factory closures due to ongoing COVID-19 restrictions. Output shrank for the fifth month in a row but at the weakest pace since September last year, while new orders fell the least in the current five-month downturn. Meantime, job shedding persisted, and buying activity dropped sharply as firms maintained their efforts to control inputs. Supply chain pressures continued to mount, with average lead times lengthening for the fifth month running. As for prices, input cost rose the most since November 2018, due to material shortages and higher transportation costs. Selling prices increased slightly, however, which indicated only a limited passing on of cost burdens to clients. Looking ahead, sentiment improved to an 11-month high but was still subdued in the context of historical survey.

The IHS Markit Myanmar Manufacturing PMI went up to 44.7 in December 2020 from 43.2 a month earlier. This was the fourth straight month of contraction in factory activity but the softest in the sequence, amid ongoing restrictions in key regions such as Yangon. Both output and new orders fell the least in the current four-month period of contraction. At the same time, employment dropped for the fourth month in a row, with the rate of contraction among the sharpest in the series history. Buying activity also fell markedly and slightly faster than that seen in November. Meantime, backlogs of works accumulated at the sharpest rate since the series began in December 2015. On the price front, input cost inflation hit its highest since November 2018, while firms passed higher cost burdens on to clients for the first time since February. Finally, sentiment strengthened to a six-month high.