Indonesia: The manufacturing sector remains healthy – UOB
|UOB Group’s Economist Enrico Tanuwidjaja, Junior Economist Agus Santoso and Vincentius Ming Shen review the recently published manufacturing PMI figures in Indonesia.
Key Takeaways
Indonesia’s manufacturing performance rebounded strongly and maintained its expansive trajectory for the 24th consecutive month and topping the highest level since Sep 2022. The latest data in Aug 2023, Indonesia's Manufacturing PMI Index recorded an improvement from 53.3 points to 53.9 points, the highest level among ASEAN countries, and only 4.7 points lower than India which recorded the highest level of PMI Manufacturing Index among Asian countries at 58.6 points in Aug.
Domestically, manufacturing sector optimism was also reflected by Bank Indonesia’s (BI) business activity survey in 3Q23. Based on BI's survey, manufacturing sector activity in 3Q23 is expected to improve, rising from 2.2% of weighted net balance (Saldo Bersih Tertimbang, SBT) to 2.7% SBT on the back of improvement in investment expectations.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.