Indonesia's Manufacturing Output, New Order Growth Hit Records in May

    Wahyu Dwi Anggoro - 02 June 2021 15:04 WIB
    Indonesia's Manufacturing Output, New Order Growth Hit Records in May
    Illustration (Photo:Medcom.id)



    Jakarta: The rate of expansion of the Indonesian manufacturing sector reached a new record in May, according to IHS Markit.

    The IHS Markit Indonesia Manufacturing Purchasing Managers’ Index™ (PMI™) posted 55.3 in May, up from 54.6 in April and  registering a new survey-record high for the third successive 
    month. 

     



    Business conditions have now strengthened in seven  successive months

    According to th report, new orders, output and purchasing  all rose at rates unprecedented in the ten-year survey history  while employment returned to growth after 14 months to meet  the rising operating capacity needs. 

    Nevertheless, supply constraints continued to be reflected by a lengthening of  lead times, resulting in sustained input cost and output charge  inflation in Indonesia. 

    "Indonesia’s manufacturing sector expanded at a record  pace in May, according to the IHS Markit Manufacturing  PMI. Companies signalled robust demand and output  improvements, while the first increase in employment in 15  months was also an encouraging sign," said IHS Markit Economics Associate Director Jingyi Pan in a press release issued on Wednesday.
     
    "Supply constraints remain an outstanding issue, feeding  into higher prices experienced across the manufacturing  sector. As a result of delivery delays, depletion of inputs was  seen despite a record ramping up of purchases," she stated.

    Overall, firms retained a positive outlook with regards to  production. 

    Almost three-quarters of survey respondents continue to expect production to rise in the next 12-month period, pinning hopes of an improvement in economic conditions on an improvement in the COVID-19 situation.

    "Overall, firms remain broadly positive with regards to future  output with hopes of improving COVID-19 conditions. It  will be important for the pandemic situation to stay under control, especially with outbreaks in the Asia region and post the Idul Fitri holidays, so as not to derail the ongoing  recovery," Pan concluded.

    (WAH)

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