Manufacturing PMI hits 7-month high in September on stronger demand
The stronger PMI reading, however, contrasts with the latest Industry Confidence Index (IKI) from the Industry Ministry, which showed a slowdown in manufacturing activity expansion in September.
The Jakarta Post reports that Indonesia's manufacturing sector experienced a rebound in September, with the S&P Global Purchasing Managers' Index (PMI) reaching a seven-month high of 52.4, indicating expansion. This positive trend was driven by stronger domestic and export demand, with new orders increasing at the fastest rate since February and export orders rising for the second consecutive month at the fastest pace since May 2022.
The improvement in new business translated into a renewed increase in manufacturing output, with production rising at the fastest pace since February. Despite the growth, backlogs of unfinished work rose at the strongest rate in five years, suggesting manufacturers continue to face pressure to fulfill incoming orders.
Brief written by urgent.news from The Jakarta Post's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
