Walking on Thin Ice; Manufacturing Activity of Indonesia Dropped Heavily in July 2021
Starting from November 2020 the manufacturing sector of Indonesia had shown a gradual recovery after the unprecedented collapse in Q2-2020. It proved to be a very superficial recovery.
Not only were the increases in monthly manufacturing activity mild compared to the collapse seen in Q2-2021, but there also occurred a direct (and huge) nosedive when the business environment weakened again in July 2021 (due to tighter restrictions imposed by the government in response to the big number of positive COVID-19 tests in June 2021).
The IHS Markit Indonesia Manufacturing Purchasing Managers’ Index (PMI) tumbled from 53.5 points in June 2021 to 40.1 in July 2021 (a PMI reading above 50.0 indicates expansion, while a reading below 50.0 indicates contraction).
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The full article is available in our July 2021 report. This report can be ordered by sending an email to info@indonesia-investments.com or a message to +62.882.9875.1125 (including WhatsApp).
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