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Indonesia’s manufacturing PMI at eight-month high
Manufacturing purchasing managers across Indonesia are confident about business prospects thanks to increasing orders.
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Workers assemble electric irons at a factory operated by PT Selaras Citra Nusantara Perkasa in Cileungsi, Bogor, West Java, on Aug. 19, 2020. (JP/Wendra Ajistyatama)
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ndonesian factories are in good shape as a key forward-looking indicator has reached the highest level in eight months thanks to strong order books.
According to London-based data firm IHS Markit, part of S&P Global, Indonesia’s manufacturing purchasing managers’ index (PMI) rose to 53.7 in September.
Up 2 points from August, that is the highest reading since January for the index, which measures factory activity based on a survey of 400 firms.
“Latest survey data was consistent with the strongest improvement in the health of Indonesia’s manufacturing sector since January,” S&P Global economist Laura Denman said in a press statement on Monday.
Indonesia’s manufacturing PMI has been on a steady upward trend since a low point in May, when it tanked to 50.8 points, though still signifying an expansion in activity by remaining above the threshold of 50 points.
Indonesia’s performance was slightly above the ASEAN headline PMI of 53.5 points and the second-best among emerging economies of the region, trailing only behind Thailand’s 55.7 points.
