Indonesia’s Manufacturing PMI Hits 20-Month High

Indonesia’s manufacturing sector grew at its fastest pace in 20 months, returning to expansionary territory in February on higher output and new orders. The Nikkei-Market manufacturing purchasing managers’ index rose to 51.4 in February from 49.9 in January, climbing above the 50-point level separating expansion from contraction for the first time in three months. This was the highest reading since June 2016. New orders rose in February, bucking two months of declines as companies reported improved domestic demand. Goods producers raised production levels for the first time in three months with the rate of expansion edging to its highest since June 2016. Manufacturers raised output charges at the fastest pace since November as currency weakness pushed up purchasing costs.

Courtesy :ft.com