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Indonesian manufacturing in RI and ASEAN continues to expand, Eurozone slows down.

Dzulfiqar Fathur Rahman 01/08/2022 19:20 WIB

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Indonesia and ASEAN manufacturing Purchasing Managers' Indices (PMI) rose, while the Eurozone's slowed in July 2022.

Comparison of Indonesia's Manufacturing PMI with ASEAN and the Eurozone (July 2022)

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Comparison of Indonesia's Manufacturing PMI with ASEAN and the Eurozone (July 2022)

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According to S&P Global data, the ASEAN manufacturing Purchasing Managers' Index (PMI) stood at 52.2 in July 2022. This index reading above 50 indicates that the ASEAN manufacturing sector remains in expansion territory.

Meanwhile, Indonesia's manufacturing PMI was at 51.3 in July 2022. Although below the ASEAN average, Indonesia's index increased from 50.2 the previous month.

According to Sian Jones, senior economist at S&P Global Market Intelligence, the expansion of Indonesia's manufacturing sector is occurring alongside a domestic economic recovery, increased domestic demand, and factory expansion driving job creation at the fastest pace since the PMI index was first compiled in 2011.

On the other hand, the Eurozone manufacturing PMI was in contraction territory, at 49.8 in July 2022. This is a significant drop from 52.1 the previous month, and represents the lowest PMI level for the Eurozone in 25 months.

Among the Eurozone countries surveyed, only the Netherlands and Austria showed expansion in their manufacturing sectors. France, Germany, Greece, Spain, and Italy recorded contractions in factory activity.

These Eurozone countries reported decreased production, partly due to supply shortages. Additionally, several companies reported labor shortages due to COVID-19.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesian manufacturing in RI and ASEAN continues to expand, Eurozone slows down.

Indonesian manufacturing in RI and ASEAN continues to expand, Eurozone slows down.

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Indonesian manufacturing in RI and ASEAN continues to expand, Eurozone slows down.

Indonesian manufacturing in RI and ASEAN continues to expand, Eurozone slows down.

Tags

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