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Financial News: Indonesia Manufacturing Activity Weakest In Nearly 4 Years

Indonesia Manufacturing Activity Weakest In Nearly 4 Years

11/01/2019 - 00:13:00 (RTTNews)

(RTTNews) - Indonesia's manufacturing activity contracted the most in nearly four years in October, data from Markit showed Friday.

The factory Purchasing Managers' Index fell to 47.7 in October from 49.1 in September, signaling the sharpest in the sector for nearly four years. A score below 50 indicates contraction.

Both output and new orders decreased at fastest rates in almost four years. As a result, employment declined at quickest pace for two years.

The October PMI reading is consistent with GDP expanding just below 5 percent at the start of the fourth quarter, Bernard Aw, principal economist at IHS Markit, said.

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