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View all search resultsManufacturing PMI climbs on rising domestic demand
Indonesia's manufacturing sector maintained its growth trajectory at the start of the year with business conditions improving at a firmer pace on the back of stronger domestic demand, according to a monthly survey published by S&P Global.
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Boxes of battery cells are seen stored for shipment on Aug. 28, 2024. at the battery manufacturing plant of PT HLI Green Power, Indonesia's first electric vehicle battery cell manufacturer, in Karawang, West Java. (AFP/Yasuyoshi Chiba)
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ndonesia's manufacturing sector maintained its growth trajectory at the start of the year with business conditions improving at a firmer pace on the back of stronger domestic demand, according to a monthly survey published by S&P Global on Monday.
The country’s Purchasing Managers’ Index (PMI) rose to 52.6 in January from 51.2 in December, marking the sixth consecutive month for the index to remain above the 50-point threshold between expansion and contraction.
The central driver of the January expansion was a faster rise in new orders, which grew for the sixth month running.
Surveyed firms frequently linked the uptick to improved domestic market demand, which spurred increased requests for goods.
Tariffs continued to weigh on overseas demand, driving a five-month slump in international sales, while the domestic economy emerged as the primary demand driver.
Business optimism regarding the 12-month outlook for production strengthened in January, reaching its highest level since last March, as firms expressed confidence that the firmer demand would be sustained.
"The expansion looks to have been led by the domestic economy, given a sustained contraction in new export sales," S&P Global Market Intelligence economist Usamah Bhatti said in the report.
