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Manufacturing in Several Asian Countries Remains Expansive; What About Indonesia?

Viva Budy Kusnandar 25/07/2022 12:00 WIB

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Despite the threat of a global recession, manufacturing activity in several Asian countries continued to expand until June 2022.

Manufacturing Purchasing Managers' Index (PMI) of Several Asian Countries (June 2022)

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Manufacturing Purchasing Managers' Index (PMI) of Several Asian Countries (June 2022)

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Amidst the threat of a global recession, manufacturing activity in several Asian countries continued to expand until June 2022. This is reflected in the Purchasing Manager's Index (PMI) which remained above the 50 level.

A PMI above 50 indicates that a country's manufacturing activity is expanding. A PMI below 50 indicates contraction or decline.

Vietnam's PMI was recorded at 54 in June 2022, the highest among several other Asian countries. This indicates that Vietnam's manufacturing sector remains expansive.

This aligns with the Asian Development Bank's (ADB) projection in the supplementary report of the Asian Development Outlook (ADO) July 2022 edition, which estimates that Vietnam's economy will grow by 6.5% in 2022.

Similarly, in India and the Philippines, manufacturing in both countries remained quite expansive with a PMI above 53 at the end of the first half of this year. The ADB projects India's economy to grow by 7.2% and the Philippines by 6.5%.

Other Asian countries such as China, South Korea, Thailand, Malaysia, and Indonesia also showed expansion, with their respective PMI indices above 50, as seen in the graph.

Meanwhile, Taiwan's PMI was at 49.8 in June 2022, reflecting that its manufacturing activity is experiencing contraction.

Here's a breakdown of the ADB's projected economic growth for several Asian countries in 2022:

* India: 7.2%
* Vietnam: 6.5%
* Philippines: 6.5%
* Malaysia: 5.8%
* Indonesia: 5.2%
* China: 4%
* Taiwan: 3.8%
* Thailand: 2.9%
* South Korea: 2.6%

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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Manufacturing in Several Asian Countries Remains Expansive; What About Indonesia?

Manufacturing in Several Asian Countries Remains Expansive; What About Indonesia?

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Manufacturing in Several Asian Countries Remains Expansive; What About Indonesia?

Manufacturing in Several Asian Countries Remains Expansive; What About Indonesia?

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