Indonesia's PMI Manufacturing Ranked Second Highest in ASEAN in December 2021

Economics & Macro

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04/01/2022 16:40 WIB

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IHS Markit reported that Indonesia's Manufacturing Purchasing Managers' Index (PMI) was the second highest in ASEAN in December 2021.

ASEAN Manufacturing Purchasing Managers' Index (PMI) (December 2021)

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Indonesia's PMI Manufacturing Ranked Second Highest in ASEAN in December 2021

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ASEAN Manufacturing Purchasing Managers' Index (PMI) (December 2021)

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Indonesia's Manufacturing Purchasing Managers' Index (PMI) was the second highest in ASEAN in December 2021. However, IHS Markit reported a decline from 53.9 in November 2021 to 53.5.

Singapore achieved the highest ranking with an index value of 58, the highest throughout the survey period.

Malaysia's Manufacturing PMI ranked third with an index of 52.8. Vietnam followed with an index of 52.5, its highest since May 2021. The Philippines recorded an index of 51.8.

Thailand experienced contraction, with a PMI below 50, its index falling to 49.5. Myanmar followed with an index of 49.

IHS Markit explained that companies' expectations regarding output in the coming year improved, with the strongest sentiment since May 2019. The ASEAN manufacturing sector is expected to remain strong entering 2022, with recent increases indicating a low likelihood of slowdown.

Editor : Annissa Mutia

"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."