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Indonesia PMI January 2021

Indonesia: Manufacturing PMI at six-and-a-half years high in January

The manufacturing Purchasing Managers’ Index (PMI) released by IHS Markit rose to 52.2 in January from 51.3 in December, marking the strongest reading since mid-2014. As a result, the index moved further above the 50-threshold, signifying improving operating conditions.

January’s reading was driven by the second-highest rise in output on record and the fastest expansion in new orders since July 2014. Moreover, the decline in employment was the softest in close to one year, while business confidence strengthened to a four-year high amid hopes of an end to the pandemic. On the price front, input cost inflation picked up to the fastest pace since October 2018, due to raw material shortages, leading to another rise in output prices.

Andrew Harker, economics director at IHS Markit, stated:

“The Indonesian manufacturing sector remained on the path to recovery at the start of 2021, with growth of output and new orders among the best in the decade-long survey so far.”

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