Myanmar’s manufacturing sector showed signs of recovery in June despite ongoing measures to contain the coronavirus disease 2019 (COVID-19) outbreak. The IHS Markit Myanmar Manufacturing PMI increased to 48.7 in June 2020 from 38.9 in the prior month, amid signs that the most extreme phase of COVID-19 disruption to the goods-producing sector had passed, with output and new orders both rising for the first time in four months
Less positively, employment continued to decline at a marked rate, although anecdotal evidence suggested that at least some layoffs were temporary.
Regarding prices, the report continues saying that “input cost fell for the third time in four months, linked to weak demand, lower oil prices and the weakening US dollar against the Myanmar Kyat. Output prices fell for the sixth time in seven months, and at a slightly faster rate than in May.”
The headline IHS Markit Myanmar Manufacturing PMI is a composite single-figure indicator of manufacturing performance. It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases. Any figure greater than 50.0 indicates overall improvement of the sector.
