Indonesian Manufacturing PMI Remains Guarded Amid Global Slowdown

Manufacturing (Photo: dock. Antara)

JAKARTA - Secretary of the Coordinating Ministry for Economic Affairs Susiwijono Moegiarso assessed that the Indonesian Manufacturing Manager's Index (PMI) figure in February 2024 was still at the level of 52.7 was still quite good and indicated that the manufacturing sector was expansive for 30 consecutive months.

"For PMIs, the figure is quite good, right, the figure is 52.7 to 30 consecutive months, we are expansive and still very high," he explained to the media crew, Friday, March 1.

Previously, S&P Global released the Indonesian Manufacturing Purchasing Manager's Index (PMI) in February 2024 was at the level of 52.7. This figure is down 0.2 points when compared to the January 2024 achievement which is at the level of 52.9.

Susiwijono said that the condition of Indonesia's manufacturing sector is currently still ongoing and persists in the midst of global conditions that are starting to show a slowdown.

"This is important because the indicators of the real sector mean that our manufacturing continues to continue in the midst of the current global situation," he said.

According to him, this condition must still be anticipated because the global economy is still full of uncertainty so that Indonesian exports must be maintained.

"Indeed, the anticipation is that with a global one that is still experiencing a slowdown in uncertainty like this, we must protect our exports," he said.

Even so, Susiwijono said that Indonesia's export performance still needs to be maintained because the Indonesian industry is very focused on export performance.

"Our industry is mostly export-oriented, actually the number 52.7 confirms that in the midst of global conditions, our manufacturing continues to grow high," he concluded.