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Indonesia PMI December 2023

Indonesia: Manufacturing PMI rises to three-month high in December

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 52.2 in December, up from November’s 51.7. 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 ended 2023 on a high note thanks to a broad-based improvement in operating conditions. Stronger domestic and foreign demand supported quicker growth in new orders and production. The upturn in activity led to a rise in both purchasing activity and staffing levels, while vendor performance improved.

On the price front, higher prices for raw materials and shipping fueled input costs, resulting also in higher output charges. However, inflationary pressures were lower than historical averages. Meanwhile, confidence in the sector strengthened in December on rising optimism regarding sales in 2024.

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