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Indonesia PMI February 2023

Indonesia: Manufacturing PMI virtually unchanged in February

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) dipped to 51.2 in February from 51.3 in the month prior. Consequently, the PMI remained above the 50-threshold that separates improving from deteriorating conditions in the manufacturing sector compared to the previous month.

Output growth accelerated in February, while new orders increased at a faster pace and employment rose, albeit marginally. However, optimism for the coming 12 months decreased to a 33-month low. On the price front, inflationary pressures continued to ease, with both input and output price inflation moderating.

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

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