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View all search resultsManufacturing PMI ticks up on rising new orders
Factory activity in Indonesia saw a modest improvement in October thanks to rising new orders, purchasing activity and employment, according to a monthly survey published by S&P Global.
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A worker installs the battery of a Hyundai IONIQ 5 electric car on April 6, 2023, at the Hyundai Motor Manufacturing Indonesia (HMMI) assembly plant in Cikarang, West Java. (JP/Rachmat Kurniawa)
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anufacturing activity in Indonesia recorded a modest improvement in October as new orders increased despite looming cost pressure, according to a monthly survey published by S&P Global.
The country’s Purchasing Managers’ Index (PMI) rose to 51.2 in October from 50.4 in the preceding month, marking a third consecutive month for the index to remain above the 50-point threshold between expansion and contraction.
“Demand conditions were positive, as sales rose solidly, contributing to increases in employment and purchasing activity,” Usamah Bahtti, economist at S&P Global Market Intelligence, said in a statement published on Monday.
Manufacturers saw rising new orders for the third consecutive month, with the rate of growth at the joint-strongest since March, and equal with that seen in August.
Respondents in the survey also suggested that domestic market activity had improved, encouraging local clients to place additional orders. Expansion was domestic-driven, as manufacturers pointed to a second successive fall in new export business amid muted demand from international markets.
Additionally, firms have raised their capacity, with employment levels increasing for the third month in a row and at the steepest rate in five months.
Read also: RI manufacturing back in expansion after monthslong slump
