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Financial News: Indonesia Manufacturing PMI Accelerates At Record Pace -

Indonesia Manufacturing PMI Accelerates At Record Pace - Markit

10/31/2021 - 21:05:00 (RTTNews)

(RTTNews) - The manufacturing sector in Indonesia continued to expand in October, the latest survey from Markit Economics showed on Monday with a record Manufacturing PMI score of 57.2.

That's up from 52.2 in September and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Supporting the higher headline PMI reading were steeper increases in new work and output in October, which both expanded at record rates. Anecdotal evidence suggested that a relative improvement in the domestic COVID-19 situation, coupled with further easing of restrictions, enabled demand to grow and the economy to recover.

However, foreign demand contracted once again, albeit marginally. Given the stronger overall demand, manufacturers looked to expand their operating capacities by raising their workforce numbers for the first time in four months, albeit slightly. Backlogs of work nevertheless increased, though the rate of growth eased from September.

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