Wahyu Dwi Anggoro
Overall sentiment in the Indonesian manufacturing sector improved again in the latest survey period as firms grew more hopeful that sales will continue to expand in 2024.
Although remaining below the series average, the level of optimism was the second-highest recorded since October 2022.
"Forward-looking PMI indicators, including the backlogs of work and future output indices, also trended positively. Overall business confidence notably rose to the secondhighest level in over a year, while a slight accumulation of backlogged work reflected improvements in demand conditions," Pan explained.
"Finally, despite the rate of selling price inflation rising in December, it remained well below the series average to indicate muted price pressures," Pan concluded. (WHY)
