Myanmar Manufacturing PMI2016-2020 Data | 2021-2022 Forecast | Calendar

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.

The IHS Markit Myanmar Manufacturing PMI rose to 53.2 in August 2020 from 51.7 a month earlier. This was the steepest growth in the sector since May 2019 and the fifth-highest reading in the survey history, as the economy continued to reopen following the lockdown applied to contain the COVID-19. Output grew the most since April 2018, new orders gained at the fastest rate since November 2019, and employment rose for the first time since January. Meantime, buying activity fell further, as firms continued to cut input stocks. Weak overall demand for inputs resulted in quicker supplier delivery times, only the third such occurrence in the survey history. Prices data showed input prices fell for the fourth month running, while output pricesfell more as firms attempted to stimulate sales. Finally, sentiment remained weak.

The IHS Markit Myanmar Manufacturing PMI jumped to 51.7 in July 2020 from 48.7 in the prior month. The latest reading pointed to the first increase in the sector since January, as the country started to recover from the shock triggered by the COVID-19 pandemic. Both output and new orders grew for the second straight month and at the fastest pace since January. Meanwhile, export sales remained weak, notably from Japan, India, Europe, and the US. Also, employment continued to contract, reflecting a further decline in backlogs of work and a weak business outlook, with firms' 12-month output expectations remaining historically subdued amid the pandemic. Prices data showed both input and output prices fell the most since December 2015.

The IHS Markit Myanmar Manufacturing PMI increased to 48.7 in June 2020 from 38.9 in the prior month, amid signs that the most extreme phase of COVID-19 disruption to the goods-producing sector had passed, with output and new orders both rising for the first time in four months. Meanwhile, employment continued to fall at a marked rate, although anecdotal evidence suggested that at least some layoffs were temporary. That said, backlogs of work dropped at the slowest pace in seven months. Average lead times for inputs lengthened again,, albeit by the least for four months. Regarding prices, input cost fell for the third time in four months, linked to weak demand, lower oil prices and the weakening US dollar against the Burmese kyat. Output prices fell for the sixth time in seven months, and at a slightly faster rate than in May. Finally, sentiment improved from April's 14-month low, but remained historically subdued.