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Indonesia PMI April 2023

Indonesia: Manufacturing PMI rises in April

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose to 52.7 in April from 51.9 in the prior month. Consequently, the PMI moved further above the 50-threshold that separates improving from deteriorating conditions in the manufacturing sector compared to the previous month.

Output growth accelerated in April, while new orders and employment increased at a faster pace. Additionally, optimism for the coming 12 months strengthened. On the price front, cost pressures softened to the lowest level in nearly two-and-a-half years, while output price inflation was unchanged from March—, which had marked lowest level since November 2020.

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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