Manufacturing Activity in Indonesia Contracts for 7th-Straight Month; Weak Start of the Year
As expected, Indonesia experienced a weak start of the year in terms of its manufacturing activity. The IHS Markit Indonesia Manufacturing Purchasing Managers’ Index (or PMI) was recorded at 49.3 in December 2019 (remaining stubbornly below the 50.0 level that separates contraction from expansion in the manufacturing sector). The latest PMI figure is also a slight decline from 49.5 in the preceding month.
It also means that manufacturing activity in Indonesia has now been contracting for seven straight months. The average PMI reading of Indonesia for the fourth quarter of 2019 was 48.5, or the weakest quarter recorded since 2015. It also dims hopes for an acceleration in Indonesia’s economic growth at the year-start.
Indonesia's Manufacturing PMI:
Read the full article in our January 2020 edition
