Financial News: Indonesia Manufacturing Sector Picks Up Steam In April

Indonesia Manufacturing Sector Picks Up Steam In April - S&P Global

05/01/2023 - 20:38:00 (RTTNews)

(RTTNews) - The manufacturing sector in Indonesia continued to expand in April, and at a faster pace, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 52.7.

That's up from 51.9 in March and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Incoming new work increased at the sharpest pace for seven months. A robust improvement in manufacturing order books largely reflected strong domestic demand as export sales declined in April.

Survey respondents cited subdued business conditions in major overseas export destinations as a factor leading to a slight drop in new orders from abroad. Rising overall volumes of new work and strong sales pipelines resulted in a further boost to production schedules during April.

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