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Financial News: Indonesia Manufacturing PMI Slows In December - Markit

Indonesia Manufacturing PMI Slows In December - Markit

01/02/2022 - 19:46:00 (RTTNews)

(RTTNews) - The manufacturing sector in Indonesia continued to expand in December, albeit at a slower pace, the latest survey from Markit Economics revealed on Monday with a manufacturing PMI score of 53.5.

That's down from 53.9 in November, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

This represented a fourth straight month of improving business conditions across the Indonesian manufacturing sector, though the rate of improvement was the slowest since September.

Demand for Indonesian manufactured goods and production both expanded for the fourth consecutive month in December, with output growth accelerating from November to the third fastest on record. The continued improvement in economic conditions following the easing of COVID-19 restrictions in previous months supported manufacturing sector activity growth, according to panelists. In contrast, the expansion in total new work eased for the second straight month in December.

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