The manufacturing sector in Indonesia continued to expand in November, albeit at a slower pace, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 50.3.
That’s down from 51.8 in October, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
The headline PMI was consistent with a fifteenth consecutive monthly improvement in the health of Indonesia’s manufacturing sector. The rate of expansion was the slowest seen in five months, however, and only slight. Indonesian manufacturing production continued to expand in November, driven by higher demand.
That said, rates of growth for both new orders and output eased from October and were only marginal. Survey respondents reported that better underlying demand conditions and new client wins had supported the overall expansion in new business, although some firms saw demand fall amid a deterioration in economic conditions and supply issues. Foreign demand fell sharply and at the quickest rate in 15 months, with weaker global economic conditions often cited by panel members.