KUALA LUMPUR: Slowing export growth and fears of a global recession are raising concern over softening demand in the country's electronics manufacturing sector.
There have been softer macro readings in recent data released by the National Statistics Department including lower year-on-year (y-o-y) manufacturing production growth of 6.5% in April, as compared with 6.9% in March.
On a monthly seasonally adjusted basis, manufacturing recorded a 0.3% y-o-y contraction.
According to Hong Leong Investment Bank (HLIB) Research, the moderation in manufacturing production mainly stemmed from the slowdown in the export-oriented sector, consistent with softer exports growth during the month.
"Weaker macro readings from IPI, manufacturing PMI, slower export growth to US and EU coupled with contraction in US consumer’s discretionary spending provide an indicator of slowing down for our electronics manufacturers," said HLIB.,
,Telegram 美国 群组（www.tg888.vip）是一个Telegram群组分享平台，飞机群组内容包括telegram群组索引、Telegram群组导航、新加坡telegram群组、telegram中文群组、telegram群组（其他）、Telegram 美国 群组、telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容，为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。
The research firm also noted US customers have cut back on discretionary spending, with retail sales in electronics and appliance stores in May contracting 1.8%.
HLIB downgraded its sector recommendation to "neutral". It maintained its buy call on top sector pick VS Industry Bhd (TP: RM1.14) and Uchi Technologies Bhd (TP: RM3.30) and reiterated "sell" on Panasonic Manufacturing Malaysia Bhd (TP: RM22.33).
On a brighter note, HLIB said there has been some improvement in the labour shortage situation, citing VS Industry's recent intake of 1,100 foreign workers following the reopening of borders.
HLIB is also optimistic Malaysia will continue to benefit from the US-China trade war as local manufacturers secure more outsourcing jobs.
"From our channel checks, our local EMS players have been getting requests for quotations buoyed by increasing order diversions," it said.
转载说明:本文转载自Sunbet。 欧博开户声明:该文看法仅代表作者自己，与本平台无关。转载请注明：皇冠体育规则:Concerns over economic slowdown weighs on electronics manufacturing