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Indonesia ranks third in ASEAN on manufacturing PMI uptick
Indonesia’s manufacturing sector has seen slight growth in line with the regional trend, though an analyst cautioned that "the real challenge" was yet to come.
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Employees make tofu on Jan. 20, 2022 at a cottage factory in Surabaya. (AFP/Juni Kriswanto)
T
he mood of the local manufacturing industry has improved slightly over the past month to rise above most other ASEAN countries, a report released on Thursday shows.
Indonesia’s manufacturing purchasing managers’ index (PMI) booked a monthly increase of 0.6 to 51.9 in April, while Thailand’s rose 0.1 to the same level, according to a report published by HIS Markit, a subsidiary of financial information firm S&P Global.
The two countries rank third among ASEAN states according to the latest manufacturing PMI.
The report also shows that Indonesia’s rate of improvement was the fastest since January, which it attributes to increased economic activities as a result of relaxed COVID-19 restrictions.
The report is based on a survey of manufacturing purchasing managers who were asked whether business conditions had improved or worsened over the past month in a number of indicators, including customer orders, supply deliveries and employment levels.
Singapore and the Philippines top the list, with the former booking an astounding 3.1-point month-to-month (mtm) increase in its manufacturing PMI to 58.1, while the latter increased 1.1 points to 54.1.
Meanwhile, Vietnam’s manufacturing PMI remained unchanged at 51.7 while Malaysia saw a 2- point mtm increase to 51.6.
