Update COVID-19 in Indonesia: 927,380 confirmed infections, 26,590 deaths (19 January 2021)
19 January 2021 (closed)
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Indonesia’s latest manufacturing data showed that the contraction in manufacturing activity has continued in June 2020, but the level of contraction was not as bad as in the past two months. This is in line with our forecast as the Indonesian government gradually allowed the Indonesian economy to reopen in June 2020.
Nonetheless, the drops in both output and new orders across Indonesia, while falling at notably slower rates than in the preceding month, were still robust in June 2020. Meanwhile, Indonesian manufacturing firms also continued to cut employment and purchasing activity at marked rates.
The IHS Markit Indonesia Manufacturing Purchasing Managers’ Index (or PMI) grew from 28.6 points in May 2020 to 39.1 points in June 2020, remaining below the 50.0 level that separates contraction from expansion in manufacturing activity.
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