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Indonesia PMI November 2023

Indonesia: Manufacturing PMI increases in November

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 51.7 in November, up from October’s 51.5. As such, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in manufacturing sector operating conditions compared to the previous month.

The sector’s expansion halfway through Q4 was driven by stronger output growth, a sustained, albeit smaller, rise in new orders and higher employment levels. Growing confidence among manufacturers also underpinned increased purchasing activity and inventories. Less positively, vendor performance weakened slightly in the month.

On the price front, input inflation rose to a one-year high amid higher costs for raw materials, shipments and currency conversion. Nevertheless, both input and output price pressures remained muted by historical standards.

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