The manufacturing sector in Indonesia sustained its contraction in October at a consistent pace, according to the latest survey by S&P Global released on Friday, which reported a manufacturing PMI of 49.2. This figure remains unchanged from September, marking a continuous position below the threshold of 50, which delineates expansion from contraction.
Both output and new orders experienced slight declines in October, continuing a four-month trend of reduction. Panelists attributed this to muted market demand, as clients' purchasing power was observed to be diminished.
This trend was evident across domestic as well as international markets, with geopolitical uncertainties contributing to a marginal eighth consecutive monthly decrease in new export orders.
