FMM said with the slowing global economy, the outlook for Malaysia’s manufacturing sector in the second half remains cautious.
Following the rise in the overnight policy rate by 25 basis points to 3% in May, local manufacturers experienced a rise in operating costs.
“Looking ahead, the sector is likely in anticipation of the persistently weak external conditions and clearer domestic economic policies and directions from the government to help spur higher investments and Malaysia’s growth momentum,” it said. The survey showed that all indicators had declined from the previous survey, except for production cost, said FMM in a statement.
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