Indonesia's Manufacturing Activity Further Expanded
24 February 2023 03:51
Indonesia's manufacturing activity in January 2023 remained expansive and even further expanded compared to the previous month beating manufacturing activity levels in other G20 and ASEAN countries.
For the month of January 2023 Indonesia's manufacturing purchasing managers' index rose to 51,3. 0,4 percentage points higher compared to december 2022.
A level of 50 and above indicates that manufacturing activity is expansive.
Indonesia's Minister of Finance Sri Mulyani affirmed that indonesia's manufacturing activity even outpaced those of many ASEAN and G20 countries.
In fact out of G20 and ASEAN six countries only Indonesia, Thailand and the Phillipines saw an increase in their manufacturing activity.
On the other hand over 52 percent of countries in the world saw their manufacturing pmi contract including the US, European Union, Singapore, South Korea and Japan.
Meanwhile 17 percent of countries around the world saw a slow down in manufacturing activity including australia and Russia.