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Financial News: Indonesia's Factory PMI Falls To 25-Month Low

Indonesia's Factory PMI Falls To 25-Month Low

09/02/2019 - 02:47:00 (RTTNews)

(RTTNews) - Indonesia's manufacturing sector contracted the most in just over two years in August as firms cut production in response to lower demand, survey data from IHS Markit showed Monday.

The manufacturing Purchasing Managers' Index fell to 49.0 from 49.6 in July. A score below 50 indicates contraction.

New orders fell for the first time in four months during August, led by a decline in exports. Further, output dropped at the sharpest pace since December 2017.

Lower employment was reported for the second month running. Inflationary pressures were meanwhile relatively weak.

Historical comparisons showed the latest PMI reading is consistent with GDP expanding at an annual rate of just below 5 percent, Bernard Aw, principal economist at IHS Markit, said.

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