Indonesia Manufacturing Sector Picks Up Steam In November - S&P Global
(RTTNews) - The manufacturing sector in Indonesia continued to expand in November, and at a faster rate, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 53.3.
That's up from 51.2 in October, and it moved further above the boom-or-bust line of 50 that separates expansion from contraction.
Central to the expansion in November was a stronger rise in new orders. The rate of growth was sharp and the steepest since August 2023. Panelists reported that the increase commonly reflected rising customer numbers.
Higher demand appeared to be driven by the domestic economy, as there was a sustained and stronger decline in new export orders that was the most pronounced in 14 months. In turn, there was a renewed uptick in production levels during November for the first time in three months. Moreover, the expansion was the fastest since February.
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