Myanmar Manufacturing PMI2016-2020 Data | 2021-2023 Forecast | Calendar

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.

The IHS Markit Myanmar Manufacturing PMI increased to 43.2 in November 2020 from the second-lowest reading on record of 30.6 in October. Still, this was the third straight month of contraction in the sector, amid suspended factory operations and subdued demand conditions. Output, new orders, employment and purchasing activity all recorded sharp reductions. The backlogs of work indicator rose sharply since October, signalling renewed capacity pressures. At the same time, vendor performance deteriorated with pressures at supply chains accumulating. On the price front, input cost inflation accelerated, with material shortages often mentioned by panel members. At the same time, efforts to encourage sales were linked to a fall in factory gate prices. Finally, confidence remained subdued.

The IHS Markit Myanmar Manufacturing PMI plunged to 30.6 in October 2020 from 35.9 a month earlier. This was the second-lowest reading on record as the economic fallout from the COVID-19 crisis persisted, with the government putting many regions in tightening restrictions. Output, new orders and purchases all contracted at record rates. Also, job shedding continued after workers returned to their hometowns. In line with record falls in new work, purchasing operations were scaled back. The volume of inputs fell at the fastest rate on record, while stocks of purchases contracted at the joint-second fastest rate in the survey history. Vendor performance weakened for the second straight month. On the price front, inflationary pressures arose with cost burdens increasing modestly. Factory gate prices continued to fall in order to stimulate sales. Looking ahead, sentiment remained positive but it was weak in the historical context.

The IHS Markit Myanmar Manufacturing PMI plunged to 35.9 in September 2020 from August's 15 month high of 53.2. This was the second-lowest reading on record due to a range of new lockdown measures aimed at fighting a surge in COVID-19 cases. The contraction in output was the second-fastest in the survey history, as factories temporarily closed in key industrial zones in Yangon province. Also, new work fell at the second-fastest rate since the survey began, amid weak export orders, particularly from Asian markets including India, Thailand, Vietnam, and Qatar. Employment fell sharply after rising in August; while buying levels declined markedly, leading to the strongest rate of input destocking since March. At the same time, deflationary pressures remained, with input prices falling for the fifth-month running and output charges cut at a record pace. Lastly, sentiment hit its lowest since April.