ASEAN Manufacturing PMI reaches a record high in February

LootboxPhobia · 2026-03-03T06:07:48+00:00

ASEAN manufacturing showed strong performance in February, with the PMI index rising from 52.8 in January to 53.8, marking the eighth consecutive month in the positive territory. New orders and output increased significantly, and companies are optimistic about performance over the next 12 months. Despite rising input prices, inflation remains at historically low levels.

LootboxPhobia

2026-03-03 06:07:48

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Investing.com – According to data released on Tuesday, the ASEAN manufacturing sector recorded its strongest performance since data collection began in July 2012. The S&P Global ASEAN Manufacturing Purchasing Managers’ Index (PMI) rose from 52.8 in January to 53.8 in February.

The index has remained in positive territory for eight consecutive months, with a reading above 50 indicating an improvement in operating conditions compared to the previous month.

New orders grew at the fastest rate on record, surpassing the previous high observed in October 2021. This growth extended the current expansion streak to seven months. Production also increased at nearly record speed during the month.

For the first time in four months, new export orders recovered, rising modestly and marking the fastest expansion in four years.

Companies responded to higher demand by increasing procurement activities and staffing levels, extending the growth cycles to seven and six months, respectively. The expansion rate was among the strongest in the series’ history. As capacity pressures intensified, backlogs of work increased for the sixth consecutive month.

Input prices rose sharply, although inflation remained roughly flat compared to January and at a historic low. During the period, output prices increased slightly.

Data was collected from approximately 2,100 manufacturers across Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, from February 4 to 23. These countries account for 98% of ASEAN manufacturing value added.

Manufacturers expressed strong optimism about output growth over the next 12 months, although confidence slightly eased from January, reaching a three-month low.

Maryam Baluch, an economist at S&P Global Market Intelligence, stated that the surge in new orders enables companies to increase production at a similar pace. She noted that the steady rise in backlogs indicates room for further expansion, and businesses remain optimistic about the outlook for output growth.

This article was translated with the assistance of artificial intelligence. For more information, please see our Terms of Use.

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