ASEAN is 10 countries although this PMI covers 7 of them.
- Indonesia
- Malaysia
- Myanmar
- Philippines
- Singapore
- Thailand
- Vietnam
Not a great result ...
- down for a third straight month, described as a "sharp deterioration"
- Business confidence weakest since July 2020
Remarks from the report:
- COVID-19 outbreaks and stricter lockdown measures continued to adversely impact the ASEAN manufacturing sector during August, which remained firmly mired in a downturn. Client demand continued to retreat, while factory production declined rapidly again. Subsequently, companies cut back on staffing, despite a record upturn in backlogs, while business confidence moderated to a 13-month low.
- Moreover, for the first time since May 2020, contractions were recorded across each of the seven constituent nations during August, highlighting the severe impact of rising COVID-19 cases and stronger lockdown measures across the region. The fastest rates of decline were recorded in Myanmar, Vietnam and Malaysia.
- Overall, the latest data provided little good news. Companies were still confident overall of higher output in 12 months' time, however, with firms hopeful that once restrictions are eased the sector will once again rebound.
