Jakarta: The headline seasonally adjusted S&P Global Indonesia Manufacturing Purchasing Manager’s Index™ (PMI™) posted at 53.7 in September 2022, up from 51.7 in August 2022.
Having posted above the 50.0 no-change mark, the headline PMI was consistent with a thirteenth consecutive monthly improvement in the health of Indonesia's manufacturing
sector.
Moreover, the rate of expansion was the quickest in eight months and solid overall
"Latest survey data was consistent with the strongest improvement in the health of Indonesia’s manufacturing sector since January. Firmer demand conditions helped to drive the sharpest increase in new orders for almost a year. These improvements in demand fed through to stronger upturns in production, employment and buying activity during September," said Laura Denman, Economist at S$P Global Market Intelligence, in a press release on Monday.
"Another encouraging outcome of Septembers data was the further softening of inflationary pressures. Input cost and selling price inflation eased to 20- and 15-moth lows, respectively," Denman added.
Despite this, overall business sentiment across the Indonesian manufacturing sector remained below the historical average, dipping to a three-month low.
While some firms remained optimistic that current demand trends would be sustained, others expressed concerns regarding the overall effects that inflation will have on the wider economy.
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