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Financial News: Indonesia Manufacturing PMI Climbs To 49.6 - S&P

Indonesia Manufacturing PMI Climbs To 49.6 - S&P Global

12/01/2024 - 20:23:00 (RTTNews)

(RTTNews) - The manufacturing sector in Indonesia continued to contract in November, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 49.6.

That's up from 49.2 in October, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Central to the rise in the PMI during November was an expansion in production for the first time in five months. Growth occurred despite a reduction in new orders where firms noted that demand for goods remained underwhelming. Panelists continued to report quiet market activity, characterized by weak purchasing power amongst clients.

New export orders declined as well, falling for a ninth successive month and to a stronger degree. With output rising, but new orders down, excess production was used to help clear work outstanding and build warehouse inventories.

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