Jakarta: The recovery in the Indonesian manufacturing sector continued in January as both output and new orders expanded at accelerated rates and business confidence hit a four-year high, according to latest IHS Markit Purchasing Managers’ Index (PMI™) data.
The IHS Markit Indonesia Manufacturing Purchasing Managers’ Index™ (PMI™) rose for the fourth successive month in January, up to 52.2 from 51.3 in December.
Moreover, the latest improvement in the health of the sector was the most marked for six-and-a-half years, and one of the greatest since the survey began in April 2011.
"One negative aspect of the survey remains employment, however, which stubbornly continued to fall in January," said IHS Markit Economic Director Andrew Marker in a press release on Monday.
"This highlights that while progress on the road to recovery has been made, there is still some way to go before the lost activity from last year can be made up," he added.
Business confidence also strengthened in January, with optimism fueled by hopes of an end to the covid-19 pandemic and further new order growth.
In fact, sentiment reached a four-year high as around three-quarters of respondents predicted a rise in output over the coming year.
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