September 2022 Manufacturing Index Rose to 53.7
According to London-based data firm IHS Markit, part of S&P Global, Indonesia’s manufacturing purchasing managers’ index (PMI) rose to 53.7 in September. Up 2 points from August, that is the highest reading since January for the index, which measures factory activity based on a survey of 400 firms. “Latest survey data was consistent with the strongest improvement in the health of Indonesia’s manufacturing sector since January,” S&P Global economist Laura Denman said in a press statement on October 3.
Indonesia is still in the optimistic views of positive economic growth although The World Trade Organization expects significant headwinds for global trade next year, as global merchandise trade volume was estimated to grow by just 1 percent in 2023 and real global GDP growth is projected to increase by 2.3 percent based on risks such as a potential escalation of the war in Ukraine or a food or energy crisis.
