Wahyu Dwi Anggoro
IDXChannel - Indonesia's manufacturing sector expanded at a quicker pace in the opening month of 2024, according to the latest S&P Global Manufacturing Purchasing Manager’s Index (PMI) data.
The headline seasonally adjusted S&P Global Indonesia PMI rose to 52.9 in January, up from 52.2 in December, to signal that manufacturing sector conditions continued to improve and at the fastest rate since August 2023.
This extended the current period of manufacturing sector expansion to 29 months.
"January's PMI data offered encouraging signs of an improving manufacturing sector in Indonesia. Faster new order growth, coupled with better supply conditions, led to production expanding at the fastest pace in two years. At the same time, there were signs of easing inflationary pressures at the start of the year," Jingyi Pan, Economics Associate Director at S&P Global Market Intelligence, said in a media release on Thursday (1/2/2024).
That said, business optimism dimmed slightly within the manufacturing sector in January, with some firms still concerned about growth prospects.
