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Financial News: Indonesia Manufacturing PMI Slips To 51.8 In October

Indonesia Manufacturing PMI Slips To 51.8 In October - S&P Global

10/31/2022 - 20:56:00 (RTTNews)

(RTTNews) - The manufacturing sector in Indonesia continued to expand in October, albeit at a slower pace, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 51.8.

That's down from 53.7 in September, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Sustained growth in overall demand within the Indonesian manufacturing sector drove an increase in manufacturing production in October. The rates of growth in both new orders and output eased from the prior month but remained solid.

On the other hand, foreign demand for Indonesian manufactured goods dipped again in October and at the fastest rate in the current five-month sequence. Anecdotal evidence suggested that weaker economic conditions abroad underpinned the decline.

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