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Indonesia PMI January 2024

Indonesia: Manufacturing PMI rises in January

The S&P Global Indonesia Manufacturing Purchasing Managers Index (PMI) rose to 52.9 in January from 52.2 in December. As a result, the index moved further above the 50.0 no-change threshold and signaled a faster improvement in manufacturing sector operating conditions compared to the previous month.

In December, the manufacturing sector saw accelerated growth in new orders, leading to the fastest rise in production in two years. Purchasing activity also picked up, resulting in a further accumulation of pre-production inventories among firms. That said, staffing levels remained unchanged despite hiring efforts. Lastly, price pressures eased, and business confidence remained upbeat.

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