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Financial News: Indonesia Manufacturing Sector Contracts In December

Indonesia Manufacturing Sector Contracts In December

01/02/2018 - 00:55:00 (RTTNews)

(RTTNews) - Indonesia's manufacturing activity deteriorated for the first time in five months in December, survey figures from IHS Markit showed Tuesday.

The seasonally adjusted Nikkei Purchasing Managers' Index dropped to 49.3 in December from 50.4 in November.

Any reading below 50 indicates contraction, while a score above 50 suggests expansion in the sector.

The downturn was partially driven by renewed declines in output and new orders.

Consequently, firms cut their staffing levels at a modest pace and reduced their inventory holdings.

On the price front, input price inflation accelerated to a 6-month high, led by higher imported raw material costs stemming from the weakness of the Indonesian rupiah. As a result, firms raised their selling prices.

Finally, business sentiment towards future output expectations was the strongest since June.

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