Indonesia skyline

Indonesia PMI March 2024

Indonesia: Manufacturing PMI rises to highest level since October 2021 in March

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose to 54.2 in March—the highest since October 2021—from 52.7 in February. 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.

March’s data highlighted marked growth in Indonesia’s manufacturing sector, driven by faster gains in output and new orders. This, in turn, led to a significant increase in buying levels, the strongest in over two years, which fed into a record upturn in stocks of purchases. However, capacity pressures remained mild, and there was broadly no change in employment levels.

Prices and business sentiment in March saw notable changes. Input inflation was the highest in a year and a half, boosted by unfavorable exchange rate movements. In addition, the rate of output inflation reached a 21-month high, outpacing its long-run average, with demand strength allowing firms to pass on cost rises to clients. However, business sentiment weakened to the lowest in over a year, dampened by concerns over the sustainability of the current trend of robust sales growth.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen