KUALA LUMPUR, Feb. 3 -- Manufacturers in Malaysia reduced their selling prices at the strongest rate in ten years to counter subdued demand conditions, according to S&P Global Malaysia.
In its latest Manufacturing PMI, the research house said the price reductions, the first since June 2023, aimed to stimulate sales as new orders remained weak both domestically and internationally.
"In response to current demand conditions, manufacturing firms opted to lower their selling prices as part of attempts to stimulate sales. The reduction was the first since June 2023 and - while only modest - was the strongest seen for a decade," said Usamah Bhatti, Economist at S&P Global Market Intelligence.
Despite the price cuts, production levels continued...