Benefitting from the normalizing of economic activities in the country following the complete relaxation of restrictions for mobility, the Manufacturing PMI increased significantly in June 2020 recording 67.3 with a month-on-month increase of 18.0 index points compared to May 2020.
This increase in manufacturing PMI is underpinned by the significant improvement in Production, New Orders and Employment especially in the manufacturing of food & beverages and textiles & wearing apparels subcategories, where many respondents highlighted that their factories were operated throughout the month of June receiving more new orders than in the previous month mainly supported by the local demand. In line with the growth of New Orders, Production and Stock of Purchases also increased at a higher rate during the month.
Employment sub-index increased beyond 50-threshold with the improved manufacturing activities. As the COVID-19 outbreak adversely affected the global supply, the Suppliers’ Delivery Time continued to lengthen, albeit at a slower pace, during the period.