Manufacturing PMI recorded an index value of 49.6 in August 2022, up from July, yet at slightly below the neutral threshold level.
The rate of decline of manufacturing activities was softened with the improvements reported in Employment and Stock of Purchases compared to the previous month while Production and New Orders declined at a slower pace. The Suppliers’ Delivery Time was shortened with the improved mobility.
Overall production and new orders declined marginally in August 2022 compared to July 2022. However, considering the largest manufacturing sub-sectors, an increase in production and new orders was reported in manufacture of textile and apparel sector, limiting the overall decline to a marginal level, while the manufacture of food and beverage sector maintained Production and New Orders at the same level as of July 2022.