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Financial News: Indonesia Manufacturing Sector Accelerates In April - S&P

Indonesia Manufacturing Sector Accelerates In April - S&P

05/03/2022 - 20:34:00 (RTTNews)

(RTTNews) - The manufacturing sector in Indonesia continued to expand in April, and at a faster rate, the latest survey from S&P Global showed on Wednesday with a manufacturing PMI score of 51.9.

That's up from 51.3 in March and it moves further above the boom-or-bust line.

This represented an eighth straight month of improving business conditions across the Indonesian manufacturing sector, with the rate of improvement the fastest since January.

Manufacturing output increased at a faster rate in April, supported by higher customer demand. Though modest, the increase in production was the fastest for three months, while new order growth also picked up since March. Foreign demand rose solidly overall, although some firms reported that the war in Ukraine had weighed on total new business from abroad.

As a result of the growth in new business, Indonesian manufacturers increased staffing levels in April. Notably, the rate of job creation was the fastest in the survey history as firms sought to meet the higher production needs.

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