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Indonesia PMI November 2022

Indonesia: Manufacturing PMI falls in November

The Manufacturing Purchasing Managers Index (PMI), produced by S&P Global, fell to 50.3 in November from 51.8 in the month prior. However, the PMI remained above the 50 threshold that separates improving from deteriorating conditions in the manufacturing sector compared to the previous month.

Novembers result was driven by slower increases in new orders and output. Moreover, softer demand led to a smaller increase in headcount. On the price front, inflationary pressures continued to ease, with input price inflation easing to a 23-––month low, while output price inflation also moderateds. Lastly, optimism for the coming 12 months fell to the lowest level since June due to concerns over the global economic backdrop ahead.

FocusEconomics Consensus Forecast panelists see fixed investment growing 5.1% in 2023, which is down 0.4 percentage points from last months forecast. For 2024, the panel expects fixed investment to increase 5.6%.

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