S&P Global: Indonesia’s manufacturing sector remains in contraction in Nov. ’24

Indonesia’s manufacturing sector continued to contract in November, with the S&P Global Indonesia Manufacturing Purchasing Managers’ Index (PMI) rising to 49.6 from 49.2 in October.

While new orders declined for the fifth consecutive month, a positive development was the increase in production for the first time in five months. This was accompanied by a build-up of inventories, reflecting expectations of future growth.

Despite the challenges, business confidence improved to a nine-month high. Firms expressed optimism about a potential pick-up in demand and new orders in the coming year, which could lead to increased production.

Attribution: S&P Global report

Subediting: M. S. Salama