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Financial News: Indonesia Manufacturing Sector Slows In October - S&P

Indonesia Manufacturing Sector Slows In October - S&P Global

10/31/2023 - 21:21:00 (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 Wednesday with a manufacturing PMI score of 51.5.

That's down from 52.3, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Contributing to the decline in the headline PMI reading was a slowdown in production growth in October. Whilst still solid, the rate at which output expanded was the softest in four months.

This was attributed primarily to slower sales growth in October, with anecdotal evidence suggesting that some manufacturers experienced softer demand conditions at the start of the final quarter. Furthermore, foreign demand deteriorated, leading to a marginal decline in new orders from abroad.

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