Manufacturing Activity in Indonesia Falls at Record Rate in March 2020 as COVID-19 Hits
After the surprise in February 2020 (when – contrary to expectations and in stark contrast to the global trend – manufacturing activity in Indonesia soared), matters turned normal in March 2020. In line with expectations, Indonesia’s manufacturing production and new orders contracted at record rates in March, making companies decide to cut back sharply on their purchasing activity and input inventories. Business conditions in fact deteriorated at a rate not seen before in the history of the Purchasing Managers’ Index (PMI) survey.
Behind this massive drop are the measures (taken by the Indonesian government and other governments abroad) to contain the spread of the coronavirus (COVID-19). This severely impacted on the performance of Indonesia’s manufacturing sector in March.
The IHS Markit Indonesia Manufacturing Purchasing Managers’ Index (PMI) fell from a reading of 51.9 in the previous month to 45.3 in March 2020, experiencing the sharpest deterioration of operating conditions since April 2011. Meanwhile, with the average first quarter reading of 2020 at 48.8, Indonesia’s manufacturing sector posted its third straight quarterly decline.
[...]
This article discusses the following:
• How Indonesia's manufacturing index started to feel the impact of the COVID-19 crisis in March 2020.
This article is part of the March 2020 update. To purchase the report, please send an email to info@indonesia-investments.com or a WA text message to +62(0)8788.410.6944 for further information.
To view all our reports, click here
Price per edition:
• IDR 150,000
• USD $10
• EUR €10
• SGD S$15
Poll Indonesia Investments:
According to you at what pace will the Indonesian economy grow in 2020?
Voting possible: -
Results
- Lower than 0.0% (26.8%)
- Higher than 2.0% (17.9%)
- 0.5% - 1.0% (15.9%)
- 0.0% - 0.5% (15.8%)
- 1.0% - 1.5% (11.8%)
- 1.5% - 2.0% (11.8%)
Total amount of votes: 1025
Bahas
Silakan login atau berlangganan untuk mengomentari kolom ini