KUALA LUMPUR, Sept 11 — The Federation of Malaysian Manufacturers (FMM) said the country’s manufacturing sector slowed down further in the first half of 2023 (1H2023) and with...
KUALA LUMPUR, Sept 11 — The Federation of Malaysian Manufacturers said the country’s manufacturing sector slowed down further in the first half of 2023 and with the global economy tilted towards the downside, the sector’s outlook for the 2H2023 remains cautious.
This was gleaned from its FMM Business Conditions Survey conducted from July 5 to August 18, 2023 which drew 351 respondents nationwide. The survey tracked business confidence via the FMM Business Conditions Index and covered the actual performance in 1H2023 and outlook for 2H2023. The statement said sales 27 per cent are considering streamlining their production lines, 18 per cent will likely engage in high-growth projects and only eight per cent are interested in digitalising their businesses.
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