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Financial News: Indonesia Manufacturing PMI Improves In August - S&P

Indonesia Manufacturing PMI Improves In August - S&P Global

08/31/2022 - 21:06:00 (RTTNews)

(RTTNews) - The manufacturing sector in Indonesia continued to expand in August, and at a faster pace, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 51.7.

That's up from 51.3 in July, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Production at Indonesian manufacturing firms rose for a third consecutive month in August and at the joint-quickest rate in seven months. Panel members frequently mentioned that output had increased as economic conditions continued to recover from the pandemic.

Amid reports of strengthening underlying demand conditions, new orders expanded at the quickest pace in six months. The upturn in sales was mainly driven by firmer domestic demand, as new export orders contracted for the third month in a row.

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