Indonesia: Manufacturing PMI falls in December
January 3, 2017
Indonesia’s manufacturing industry remained on a weak footing at the end of Q4. The manufacturing Purchasing Managers’ Index fell from 49.7 in November to 49.0 in December, according to a release provided by Nikkei and IHS Markit. The index lies below the 50-threshold, which indicates a contraction in the manufacturing sector.
December’s subdued reading came on the back of weak demand conditions as orders from abroad dropped sharply. In addition, employment fell at the sharpest rate since August and output contracted at the steepest pace since July. Meanwhile, a strong USD and higher prices for raw materials pushed up price pressures in December.