Jakarta: The IHS Markit Indonesia Manufacturing Purchasing Managers’ Index™ (PMI™) posted 53.2 in March, up from 50.9 in February and the highest reading since the survey began in April 2011.
The index signalled a solid improvement in business conditions which outpaced the previous survey peak seen in June and July 2014.
The record improvement in the health of the sector was registered thanks to accelerated growth of new orders and
output, both of which increased to the greatest extent in the decade-long survey so far.
Production increased for the fifth month in a row, with panellists generally linking the latest expansion to the rise in new orders. In turn, those firms that secured greater new order volumes often mentioned stronger client demand.
"These positive results add to hopes that the sector is on a fast upward trajectory, with the
obvious caveat that the covid-19 pandemic could hit back at any time," said IHS Markit Economics Director Andrew Harker in a press release on Thursday.
The coronavirus disease 2019 (covid-19) pandemic continued to impact export business. New export orders decreased for the sixteenth successive month, albeit at the softest pace since last November.
Firms were increasingly confident that improvements in output would be sustained over the coming year, with business confidence hitting a 50-month high. An end to the pandemic, higher sales and marketing efforts were all projected to support output growth.
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