Update COVID-19 in Indonesia: 64,958 confirmed infections, 3,241 deaths (6 July 2020)
Indonesia Investments Report - June 2020 Edition: Indonesia's New Normal
6 July 2020 (closed)
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Jakarta Composite Index (4,988.87) +15.07 +0.30%
Manufacturing Activity in Indonesia Contracts Further, Record Fall in Employment
As expected, Indonesia’s manufacturing activity contracted again in May 2020, albeit at a slightly slower pace. The latest IHS Markit Indonesia Manufacturing Purchasing Managers’ Index (or PMI) rose to a reading of 28.6 points in May 2020, up from the all-time low of 27.5 in April 2020. A reading below 50.0 indicates contraction in the country’s manufacturing activity, while a reading above 50.0 indicates expansion.
The COVID-19 pandemic was, again, the key cause of the manufacturing downturn in Indonesia as social and business restrictions resulted in the widespread closures of non-essential businesses. With these businesses closed, production continued to decline at a high rate, accompanied by a further substantial drop in total new orders, which was particularly dragged down by a sharp reduction in export sales.
Indonesia's Manufacturing PMI:
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Poll Indonesia Investments: