Company Efficiency Efforts Fail to Lift Sluggish Indonesian Manufacturing Index

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Adi Ahdiat 01/10/2024 17:47 WIB

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Indonesia's manufacturing index remained sluggish in September 2024, staying in contraction territory. According to S&P Global, this is partly due to corporate efficiency policies.

Indonesia Manufacturing Purchasing Managers' Index (PMI) (January-September 2024)

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Indonesia Manufacturing Purchasing Managers' Index (PMI) (January-September 2024)

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According to S&P Global's report, Indonesia's manufacturing Purchasing Managers' Index (PMI) reached 49.2 in September 2024.

Although slightly higher than in August 2024, the score remains below 50, indicating a sluggish state of the national manufacturing industry.

Note that the PMI is an index reflecting monthly industrial growth. This index is compiled from a survey of managers from hundreds of sample companies.

Surveyed variables include growth in production volume, export and domestic orders, workforce numbers, supply delivery times, and the stock of materials purchased by each company.

The survey results are then processed into a score on a scale of 0-100. A PMI score below 50 reflects weakening or contraction; a score of 50 indicates stability or no change; and a score above 50 indicates strengthening or expansion compared to the previous month.

Indonesia's manufacturing index being in the contraction zone in September 2024 was influenced by several factors, one of which is company efficiency policies.

"The disappointing performance of Indonesia's manufacturing sector is related to the sluggish global macroeconomic conditions in September," said Paul Smith, Economics Director of S&P Global Market Intelligence, in a press release (1/10/2024).

"Companies are responding by reducing purchasing activity, utilizing inventories, tightening costs, and streamlining operations," he continued.

Despite this, the S&P Global team noted a slight increase in manufacturing employment in September 2024 compared to the previous month. This is related to increased company confidence.

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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