ASEAN manufacturing conditions worsen again in NovemberStaff Writer | December 5, 2016
Operating conditions across the ASEAN manufacturing industry deteriorated for the second month running in November.
Asia Nikkei ASEAN Manufacturing PMI
Further declines in both output and total new orders were major factors weighing on the overall PMI reading.
Furthermore, the rate of contraction in production volumes accelerated to the strongest since November 2015. Meanwhile, new export orders shrank and at the same pace as in October.
Softer client demand caused firms to trim their purchasing activity in November, which in turn quickened the pace of pre-production inventory depletion.
Notably, the rate of stock drawdown was the fastest since February. Meanwhile, companies continued to face rising input costs. Average cost burdens rose at the most marked rate in a year.
However, some of the higher input costs were passed on to customers with firms hiking selling prices again. ■