Activity in Indonesia’s manufacturing sector grew in March 2019 on the back of solid domestic demand. The Nikkei Indonesia Manufacturing Purchasing Managers’ Index (PMI) accelerated to a reading of 51.2 in March, from 50.1 in the preceding month (a reading above 50.0 indicates expansion in the manufacturing sector, while a reading below 50.0 indicates contraction). It also meant that Indonesia managed to outperform its regional peers as the average PMI in the ASEAN counties stood at 50.3 in March. Overall, survey data show a marginal expansion in Indonesia’s manufacturing economy during the first quarter of 2019.

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Based on the latest data from Statistics Indonesia (BPS), which were released on 1 April 2019, Indonesian consumer prices continued to ease in March 2019 (in line with estimates). However, what is remarkable is that Indonesia’s annual inflation rate – 2.48 percent (y/y) in March 2019 – fell below the central bank’s target range (Bank Indonesia has set its inflation target for full-year 2019 at the range of 2.5–4.5 percent y/y). Indonesia’s latest inflation figure is the nation’s lowest inflation since December 2009. By Indonesian standards, inflation is currently remarkably low, hence it should manage to encourage household consumption.

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Today, Wednesday 17 April 2019, the Indonesian people vote for the country's presidential and legislative elections. While the legislative elections are not less important, most eyes are set on the presidential election; a battle between incumbent President Joko Widodo and challenger Prabowo Subianto.

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Boeing, the American multinational corporation that designs, manufactures and sells airplanes, has been experiencing severe turbulence in Indonesia ever since Lion Air flight JT-610 dove into the sea on 29 October 2018 shortly after take-off from Soekarno-Hatta International Airport outside Indonesia’s capital city of Jakarta, killing all 189 people on board (including crew).

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