Indonesia’s manufacturing PMI hits 10 year-high in March – Enterprise
Indonesia’s factory activity surged to its highest level in nearly 10 years in March as firms saw orders and production spike amid the economic recovery. Management consultancy IHS Markit wrote in a statement Thursday that Indonesia’s manufacturing purchasing managers’ index (PMI) was 53.2 in March. This was the highest value since the index began in April 2011. The March figure marked a rebound of 2.3 points in February after a slowdown. The second highest PMI achieved by Indonesia was achieved in June and July 2014. Also Read: Indonesian Manufacturing Slows Down In February The PMI, a measure for the sector based on a monthly survey of around 400 manufacturers, was still above the 50-point mark. This signaled a sustained improvement in business conditions since November last year. A value below 50 indicates a contraction. “The Indone …
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