Malaysia's Sep manufacturing PMI at four-month high

A worker installs wheels on a car at a Volvo factory in Chengdu

In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.

The overall index reading was the lowest since 2009.

Chris Williamson, chief business economist at IHS Markit said that there were some signs pointing to growth by Malaysian manufacturers after an earlier global PMI showing the steepest drop in global trade since 2012.

The global information provider noted that panel comments cited new product developments and resilient customer demand as key reasons supporting output volumes and the newly-produced items were held in stock in some cases, as firms prepared in advance for client demand for these products. -China trade war and growing concerns about the possibility of a worldwide recession.

The final Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) fell to a seasonally adjusted 48.9 from a final 49.3 in the previous month, posting the quickest pace of decline since February.

A Fed measure of production already signaled USA manufacturing is in a recession when it contracted in the first half of this year.

This is the 26th consecutive month that the manufacturing PMI has remained above the 50-point mark.

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IHS Markit said production rose faster in September and that the growth in new orders was in part because of higher domestic demand.

New orders climbed to 50.7, its highest since February, from 47.5 in August, while employment also reached a seven-month high, rising to 52.1 from 50.5 in the prior month.

"Some manufacturers noted increased inventory-building activity in preparation for the forthcoming exit date, but the impact of such Brexit-related stock-building was dwarfed by weakening demand for other customers, due in part to clients routeing supply chains away from the United Kingdom".

India's economic growth has slumped for the fifth straight quarter to an over six-year low of 5 per cent in the three months ended June as consumer demand and private investment slowed amid deteriorating global environment.

"However, while businesses generally remain upbeat about expanding production over the coming year, September saw some loss of optimism".

"There appears to have been progress made on large infrastructure projects after months of delays, with some manufacturers reporting more projects going ahead and increased tendering opportunities", the report added.

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