Wahyu Dwi Anggoro
IDXChannel - The headline seasonally adjusted S&P Global Indonesia Manufacturing Purchasing Manager’s Index (PMI) rose to 52.2 in December, up from 51.7 in November, to signal that manufacturing sector conditions continued to improve and at the fastest rate since September.
This extended the current period of manufacturing sector expansion to 28 months.
Higher new work intakes, including from overseas, supported faster production growth and a renewed qccumulation of backlogged work.
Headcounts also rose qlongside purchasing activity, aided by improved optimism among goods producers regarding the year-ahead outlook. Selling prices meanwhile rose at a slightly quicker rate despite softer input cost inflation.
"December's PMI data indicated that Indonesia's manufacturing sector concluded the final quarter of the year on a positive note as incoming new orders and output both expanded at solid rates. This helped to bolster purchasing activity and led to a sustained increase in employment across the goods producing sector, supporting further improvements in economic activity," Jingyi Pan, Economics Associate Director at S&P Global Market Intelligence, said in a media release, Tuesday (2/1/2024).
