Indonesia Manufacturing PMI Slips To 48.9 In August - S&P Global
(RTTNews) - The manufacturing sector in Indonesia continued to contract in August, and at a faster rate, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 48.9.
That's down from 49.3 in July, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Concurrent falls in both manufacturing production and new orders were signaled in August. In each case, rates of contraction were the steepest since August 2021. Panelists reported that market demand was softer compared to July and the primary factor pushing new orders lower.
The decline in foreign orders also quickened, reaching the steepest since January 2023. Apart from weaker export demand in general, some panelists reported that global shipping challenges were weighing on sales. Weakness in production and new orders led to some job shedding at Indonesian manufacturing plants.
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