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Financial News: Indonesia Manufacturing PMI Tumbles Into Contraction - Mar

Indonesia Manufacturing PMI Tumbles Into Contraction - Markit

08/01/2021 - 20:48:00 (RTTNews)

(RTTNews) - The manufacturing sector in Indonesia fell hard into contraction in July, latest survey from Markit Economics showed on Monday with a manufacturing PMI score of 40.1.

That's down sharply from 53.5 in June, and it falls beneath the boom-or-bust line of 50 that separates expansion from contraction.

June 2020. Manufacturing output and new orders both shrank at the fastest pace since May 2020 according to the latest data, thereby ending an eight-month growth streak.

Panelists highlighted the increase in disruptions arising from the second COVID-19 wave having dampened production and demand. Export orders were also affected and fell for the first time in four months and at a rate quicker than the drop in overall new work.

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