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Myanmar’s manufacturing PMI rises to 49.3 in August

TOKYO — The Nikkei Myanmar Manufacturing Purchasing Managers’ Index, or PMI, rose slightly to 49.3 in August from 49.1 in July.

A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction. The latest data marked the third consecutive month of contraction.

“Higher raw material prices were commonly cited as the reason for reduced buying activity and a sharp rise in input prices,” said Sian Jones, economist at IHS Markit, which compiles the survey.

“Firms were not widely optimistic regarding future output activity as business confidence dipped to the lowest in the short series history,” the economist added.

Source: Nikkei Asian Review

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