PETALING JAYA: Malaysia’s manufacturing sector took the sharpest hit in the last six-and-a-half years, according to a Nikkei survey.
The Nikkei Purchasing Managers’ Index (PMI), which began in July 2012, went down to 46.8 in December from the previous month’s 48.2, the Nikkei Asian Review reported.
A reading above 50 points to a growth while below 50 shows a contraction.
The report also said the manufacturing economy shrank in each month of the fourth quarter.
It added that the stagnation in employment also led to the deterioration in the manufacturing sector.
“The loss of growth momentum was attributed to resignations.”