Is a 1993 hit for Phil Collins. The title of the song is so true and some times, BOTH SIDES OF THE STORY, are telling the SAME story but in DIFFERENT ways.
Take for instance the finding of the latest PMI Index, which saw a contraction, the worst in FIVE months, yet Employment short up to its strongest level in 13 months.
Yes, shocking but true, there are jobs a plenty in Malaysia, if you WANT one. Clearly the PMI is down because we lack competitive foreign labour.
The Nikkei has the story :
Malaysia PMI hit 5-month low in November
TOKYO -- The Nikkei Malaysia Manufacturing Purchasing Managers' Index, or PMI, fell marginally to 47.1 in November from October's 47.2, marking the lowest reading since June.
A reading above 50 indicates economic expansion, while one below 50 points to a contraction. The latest figure shows Malaysia's manufacturing sector to be in contraction territory for 20 consecutive months.
"Total new orders contracted at the sharpest rate in the series history, driven partly by a fall in international demand," said Amy Brownbill, economist at IHS Markit, which compiles the survey.
"As a result, goods producers cut back on their buying activity at the quickest rate in seven months," she said. "On a more positive note, employment growth picked up to a 13-month high, suggesting firms are optimistic towards the outlook."
(Nikkei)
