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Financial News: Indonesia Manufacturing PMI Improves To 49.2 - S&P

Indonesia Manufacturing PMI Improves To 49.2 - S&P Global

09/30/2024 - 20:44:00 (RTTNews)

(RTTNews) - The manufacturing sector in Indonesia continued to contract in September, albeit at a slower rate, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 49.2.

That's up from 48.9 in August although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

The underperformance of the PMI primarily reflected monthly reductions in both output and new orders during September for a third month in a row. Panelists commented that market demand conditions remained sluggish, and that client activity was generally lower compared to earlier in the year.

Subdued global manufacturing demand was noted to have weighed on external sales especially. Latest data showed that new export business declined to the greatest degree since November 2022 and for a seventh month in a row.

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