Manufacturing contracts in May

Originally published: 1 month ago 17

Manufacturing contracted during May due to the adverse impact of the third wave of the Covid-19 pandemic.

The Manufacturing Purchasing Managers’ Index (PMI) recorded an index value of 42.1 in May 2021 with a fall of 2.2 index points from the previous month, mainly driven by the significant contraction in Production, Employment, New Orders and Stock of Purchases sub-indices.

Production, especially in the manufacture of food and beverages and textiles and apparel sectors, declined significantly with the decline of employment mainly due to the continued increase in ‘absent without informing’.

On top of this, many respondents in those sectors said that their production plans were disrupted.

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