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Financial News: Indonesia Manufacturing PMI Picks Up Steam In April

Indonesia Manufacturing PMI Picks Up Steam In April - Markit

05/02/2021 - 21:05:00 (RTTNews)

(RTTNews) - The manufacturing sector in Indonesia continued to expand in April, and at a faster pace, the latest survey from Markit Economics revealed on Monday with a manufacturing PMI score of 54.6.

That's up from 53.2 in March and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

New business expanded substantially, and at by far the fastest pace since the survey began in April 2011. Firms often cited improvements in customer demand. Moreover, total new orders were boosted by a return to growth of new business from abroad. Exports increased for the first time in 17 months.

With new business expanding sharply, Indonesian manufacturers also increased their production volumes. As was the case with new orders, the rise was the steepest on record.

There was again widespread optimism that output will continue to rise over the coming year.

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