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Indonesia posts record manufacturing PMI for 2nd month in row
The second consecutive rise in the country's manufacturing PMI heralds better times ahead, but companies could help things along by hiring more workers.
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Workers make medical masks at PT Multi One Plus's factory in Gunung Putri, Bogor, West Java, on Wednesday (15/4/2020). The factory produces 250,000 masks each day. (Antara/Yulius Satria Wijaya)
Factory activity hit another record high in April, with Indonesian businesses benefiting from easing supply chain disruptions and an uptick in global trade.
The Indonesia manufacturing Purchasing Managers’ Index (PMI), which gauges factory activity based on a monthly survey of 400 local manufacturers, increased to 54.6 in April from 53.2 in March, information provider IHS Markit said in a press release on Monday.
A PMI above 50 indicates expansion, while a PMI below 50 indicates contraction.
The latest reading marked sustained expansion over the past six months and a new high for the second consecutive month since the survey began in 2011. IHS Markit also recorded unprecedented growth rates in output, new orders and purchases.
“Indonesian manufacturing production continued to ramp up in April amid super strong expansions of new orders,” IHS Markit economics director Andrew Harker said in the release.
Read also: Indonesia’s manufacturing PMI hits 10 year-high in March
