Indonesia's Manufacturing Expands Modestly in March: S&P Global

Jakarta: Indonesia's manufacturing sector continued to expand in March, according to the latest S&P Global PMI™ data.
 
The S&P Global Indonesia Manufacturing Purchasing Managers’ Index™ (PMI™) posted 51.3 in March, up from 51.2 in February. 
 
This represented a seventh straight month of improving business conditions across the Indonesian manufacturing sector, though the rate of improvement was only mild overall.

"Indonesia's manufacturing sector continued to expand in March, according to the S&P Global Indonesia Manufacturing PMI. Although increases in output and new orders slowed in the face of lingering COVID-19 effects, business confidence improved sharply amongst manufacturers amid the easing of the latest virus wave. It will be important to see whether positive sentiment translates to better production growth in the months ahead," S&P Global Economic Associate Director said in a media release on Friday.
 
"Companies reported that supply chains and price pressures have worsened, however, which were common themes around the region for the manufacturing sector in March, due to disruptions to the global supply chain and the impact of the Ukraine war. Prolonged strain on supply chains may hinder the recovery of the sector from the latest COVID-19 wave. The good news had been better employment conditions in March, as firms remained confident in expanding their workforce capacity to accommodate ongoing and future production requirements," Pan added.
 
Business confidence across the Indonesian manufacturing sector remained positive, with the level of positive sentiment strengthening to an eight-month high as the latest COVID-19 wave receded. 
 
Firms were generally hopeful that new business will continue to expand as economic conditions improve.
 
Indonesia GDP is expected to expand by 4.9% in 2022 given the recent impact of the Ukraine-Russia war on prices.
 
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