Weaker sentiment on manufacturing sector
SUNGAI BULOH: Malaysian manufacturers are not confident of the outlook for the economy with more companies expecting a weaker business environment and rising costs.
The Federation of Malaysian Manufacturers and the Malaysian Institute of Economic Research Business Conditions Survey projected a lower Business Conditions Index of 88.9 points compared to 96.8 points six months ago, with 100 points being the growth-neutral threshold level.
The index was reflective of the latest JPMorgan Global Manufacturing PMI report, which has seen global manufacturing contract for a fifth consecutive month in October.
FMM president Tan Sri Yong Poh Kon said the sentiments were largely affected by the persistent external headwinds from Europe while China's growth numbers did not inspire.
"Being the businessmen they are, the respondents had been more optimistic in our previous survey," he told reporters after the FMM's 44th AGM.
"(However) Europe has been a significant negative impact on the companies and even though China has recorded growth, the manufacturers still feel poorly about the exports outlook."
Source : The Star
Date : 29 November 2012
Afternoon Highlight (29/11/12/202/677)
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