The IHS Markit Myanmar Manufacturing PMI fell to a three-month low of 52.0 in December 2019 from 52.7 in the prior month, but comfortably above the four-year long-run trend of 51.1. Moreover, across 2019 as a whole the PMI has averaged 52.7, the highest for a calendar year since the survey began. New orders grew slightly softer than in both October and November, while output expanded further. Meanwhile, employment growth accelerated and was the third-fastest since January 2017. In terms of prices, manufacturers benefited from record low cost inflationary pressures, as average input prices registered almost no increase since November, while output prices fell for the first time since January and for only the fifth time in the four-year survey history. Finally, confidence hit five-month high, supported by planned opening of new factories and plant machinery upgrades. Manufacturing Pmi in Myanmar averaged 51.15 points from 2016 until 2019, reaching an all time high of 55.50 points in April of 2018 and a record low of 46.40 points in August of 2018. source: Markit Economics

Manufacturing Pmi in Myanmar is expected to be 52.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing Pmi in Myanmar to stand at 52.00 in 12 months time. In the long-term, the Myanmar Manufacturing PMI is projected to trend around 52.40 points in 2020, according to our econometric models.

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Myanmar Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
52.00 52.70 55.50 46.40 2016 - 2019 points Monthly

News Stream
Myanmar Manufacturing Growth Eases
The IHS Markit Myanmar Manufacturing PMI slipped to 52.7 in November 2019 from a four-month high of 53.0 in October amid softer rises in both output and employment. Meantime, new orders grew the most since June, while buying activity increased at the fastest rate in three months. In terms of prices, input price inflation slowed to a survey-record low. Meanwhile, factory gate prices went up at the slowest rate since April, though this was the first time in the survey history charges rose more sharply than input prices. Looking ahead, sentiment strengthened to a three-month high, but remained softer than the long-run survey average.

Myanmar Manufacturing PMI Rises to 4-Month High
The IHS Markit Myanmar Manufacturing PMI rose to a four-month high of 53.0 in October 2019 from 52 in the previous month. Output rose for the twelfth month in a row and new orders also increased, with the pace of expansion quickening to the fastest since June. Greater production requirements led firms to increase workforce numbers, while buying activity also rose modestly. On the price front, input price inflation eased to the slowest in April, although raw material shortages and rising utility prices continued to push up cost burdens. Meantime, average prices charged increased marginally and at the softest rate since April. Lastly, the level of positive sentiment weakened to the lowest since February.

Myanmar Factory Activity Growth Stays at 7-Month Low
The IHS Markit Myanmar Manufacturing PMI was unchanged at a seven-month low of 52.0 in September 2019. Output growth eased to a six-month low and purchasing activity expanded the least since January, amid raw material shortages. Meanwhile, growth of new business quickened from that seen in August to a solid rate, and job creation rose the most in four months. Meantime, as has been the case in every month since June 2016, the level of outstanding business declined, with the rate of backlog depletion slowing slightly, but solid overall. Also, supplier performance deteriorated further, extending the current sequence of longer delivery times to over two years. On the price front, input price inflation was the slowest since March, while average selling prices increased at the steepest pace since November 2018. Lastly, sentiment fell to its lowest in five months.

Myanmar Manufacturing Growth Slows to 7-Month Low
The IHS Markit Myanmar Manufacturing PMI slipped to a seven-month low of 52.0 in August 2019 from 52.9 in July. The loss of momentum was partly caused by the softest rise in order book volumes since January, and a consequent slower rate of output growth. Nonetheless, output and new orders increased markedly overall. In addition, employment grew the least since January, while the level of outstanding work decreased, as has been the case in each month since June 2016. On the price front, input cost inflation slowed to a four-month low, signalling softer inflationary pressures. Selling prices increased moderately, for the seventh month in a row. Finally, sentiment remained robust, despite the level of optimism being the lowest in three months.

Myanmar Manufacturing Growth Slows to 4-Month Low
The IHS Markit Myanmar Manufacturing PMI slipped to a four-month low of 52.9 in July from 53.0 in June. New orders grew the least since March and stocks of purchases fell at the fastest pace since October 2018. Also, employment rose only modestly and for the eighth straight month; while backlogs of work fell further amid a sharp depletion of finished goods inventories. In contrast, output growth accelerated to a 15-month high. On the price front, input prices picked up, with the overall rate of inflation much higher than that seen at the start of 2019, mainly due to higher electricity cost. Factory gate prices rose for the six month in a row, reflecting efforts to protect operating margins. Looking ahead, sentiment eased, but remained strong, linked to long-term business expansion strategies, supported by planned investments in additional plant capacity and hopes of a rise in new business volumes.

Myanmar Manufacturing PMI Falls to 3-Month Low
Myanmar Manufacturing PMI declined to a three month-low of 53.0 in June 2019 from 54.2 in a month earlier. Output grew at a slower rate, though remaining among the fastest in the series history, with growth in new business staying sharp. Additionally, buying activity rose modestly, reflecting greater production requirements. Employment grew marginally, while backlogs of work fell the least in three years as production was held back by ongoing electricity outages. On the price front, input cost inflation remained elevated, though eased slightly from May's recent peak. Meantime, the pace of charge inflation accelerated to the fastest since November 2018. Lastly, sentiment strengthened and was at the highest since the start of 2017, linked to new product development and planned investment in new technology.

Myanmar Manufacturing PMI
The IHS Markit Myanmar Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 450 manufacturing companies. The Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Myanmar Business Last Previous Highest Lowest Unit
Internet Speed 4358.29 4190.43 4358.29 528.19 KBps [+]
IP Addresses 4755.00 4326.00 5293.00 77.00 IP [+]
Manufacturing Pmi 52.00 52.70 55.50 46.40 points [+]
Ease Of Doing Business 165.00 171.00 177.00 165.00 [+]
Corruption Index 29.00 29.00 30.00 13.00 Points [+]
Corruption Rank 130.00 132.00 180.00 129.00 [+]