Update COVID-19 in Indonesia: 497,668 confirmed infections, 15,884 deaths (23 November 2020)
23 November 2020 (closed)
USD/IDR (14,145) +15.01 +0.11%
EUR/IDR (16,851) +3.05 +0.02%
Jakarta Composite Index (5,652.76) +81.11 +1.46%
For the fifth straight month manufacturing activity in Indonesia remained in the red zone, implying that the fourth – and last – quarter of 2019 is bound to be a disappointing quarter in terms of manufacturing activity (possibly becoming the weakest quarter in four years). And this is certainly not a good omen for Indonesia’s economic growth in Q4-2019.
The IHS Markit Indonesia Manufacturing Purchasing Managers’ Index (or PMI) was at the level of 48.2 in November 2019 (remaining well below the 50.0 level that separates contraction from expansion in the manufacturing sector) amid declines in output and new orders. The only positive news was that Indonesia’s headline PMI improved from 47.7 in the preceding month. However, it is way too early to speak of a rebound.
Indonesia's Manufacturing PMI:
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