In the midst of many external pressures from the global economy, Indonesia's manufacturing sector is growing again. For December 2022, the Indonesia Manufacturing Purchasing Managers index rose to 50.9, up 0.6 point from the previous month. This is according to data from S&P Global.
This marked the 16th month in a row that Indonesia recorded an expansive PMI. Indicates that Indonesia's manufacturing sector is still growing, despite external pressures such as high energy price inflation and global supply chain problems.
In its report, S&P global noted that the expansion of Indonesia's manufacturing sector in December was driven by higher demand for Indonesian manufactured goods.
The increase in purchasing activity, and employment also supports further increase in output.
In addition, finished goods stocks also increased after three straight months of lows, with anecdotal evidence linking the increases, to a larger inflow of new orders and projected increases in future demand.