Malaysia's April PMI plunges to 31.3 due to Covid-19, Public Investment Bank says | Malay Mail

Tuesday, 05 May 2020 02:49 PM MYTKUALA LUMPUR, May 5 — Malaysia’s Manufacturing Purchasing Managers’ Index plunged to 31.3 in April from 48.4 in March, as sentiment was pummeled by Covid-19 headwinds, a trend seen across AseanN and emerging market economies.

“This was compounded by shortages of raw material amid a transportation system that was heavily curbed. On the outlook, the investment body said that the outlook remains challenging due to the uncertainty over the longevity of Covid-19 even though firms are generally positive on the outlook for the next 12 months.

“Singapore, which is our key trade partner and the second largest after China, is expected to remain closed until June 1, possibly weighing on our recovery prospects,” it said.

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