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Financial News: Indonesia's Factory Sector Contracts At Slower Pace

Indonesia's Factory Sector Contracts At Slower Pace

01/02/2020 - 01:49:00 (RTTNews)

(RTTNews) - Indonesia's manufacturing sector remained in negative territory in December but the pace of decline was the slowest for five months, survey data from IHS Markit showed Thursday.

The factory Purchasing Managers' Index rose to 49.5 in December from 48.2 in November. A score below 50 indicates contraction.

However, December's figure has brought the average PMI reading for the fourth quarter to 48.5, indicating the weakest quarter recorded since 2015.

The moderate improvement in December score reflected a recovery in production, new sales and input inventories. Firms were also more optimistic, as business confidence climbed to a six-month high, and purchasing activity returned to growth.

Meanwhile, inflationary pressures remained muted. Input costs increased for the first time in three months. At the same time, competitive pressures reduced selling prices at the fastest rate since the survey began over eight-and-a-half years ago.

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