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ASEAN Manufacturing Growth Slows to Nine-Month Low in April, S&P Global Says

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-- ASEAN's manufacturing sector expanded at a slower pace in April, with growth easing to a nine-month low as price pressures intensified, according to data released by S&P Global on Tuesday.

The S&P Global ASEAN Manufacturing Purchasing Managers' Index fell to 50.7 in April from 51.8 in March, marking the weakest reading since July but extending the current expansion streak to nine months.

New order growth slowed to an eight-month low, while production growth eased further and moved close to stagnation. New export orders declined for a second straight month at the fastest pace since last July.

Firms cut employment for the first time in eight months, while purchasing activity increased.

On the price front, input cost inflation surged to its highest level since March 2022, while output prices rose at the fastest pace in 49 months, reflecting stronger cost pass-through by firms.

Despite challenges and weak historical levels, business confidence stayed positive in April, with manufacturers expecting production to grow over the next year, the report said.

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