Indonesia’s Manufacturing PMI Increases To 50.4

Indonesia: The nation’s manufacturing purchasing managers’ index (PMI) saw a reading of 50.4 in November 2017, slightly improving from 50.1 in October, according to market intelligence company IHS Markit.

The latest reading is consistent with the Indonesian economy growing at an annual rate of around five percent, close to the pace of expansion seen over the previous few quarters.

It was the fourth consecutive month that the country’s PMI has risen—manufacturing output increased for the second straight month, and new export orders expanded for the fourth consecutive month. The growth is supported by enhanced marketing initiatives and favourable demand conditions.

Local manufacturing firms reduced their purchasing activity modestly in November as they used existing inventories. As a result, pre-production stocks lowered for the fifth straight month.

As backlogs orders in Indonesia continued to drop in November, it resulted in ongoing spare capacity in the manufacturing sector and the rate of depletion accelerated to the fastest in five months.

Strong external demand remained a bright spot due to a sustained increase in Indonesia’s goods exports. The PMI’s gauge of new export orders indicated a near-continual trend of rising foreign demand since April. Export growth has been boosted by higher commodity prices as on average, raw material exports account for around one-fifth of all Indonesia’s exports.

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