Indonesia's PMI Manufacturing Sector Shows Most Expansive Growth in ASEAN in November 2021
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Indonesia's Manufacturing Purchasing Managers' Index (PMI) stood at 53.9 in November 2021, making it the most expansive manufacturing PMI in ASEAN.
However, Indonesia's Manufacturing PMI was lower than the previous month, declining by 5.8% from the record high of 57.2.
Malaysia followed with the highest index at 52.3.
Vietnam and Singapore were next, with indices of 52.5 and 51.7 respectively. The Philippines followed with a manufacturing PMI of 51.7.
Thailand had the second-lowest index in ASEAN at 50.6. Finally, Myanmar experienced a manufacturing sector contraction, with a PMI below 50 at 46.7.
IHS Markit explained that the ASEAN manufacturing sector continued its recovery throughout November. Output and new orders continued to rise for two consecutive months, although the rate of expansion slightly decreased from the all-time high recorded in October. However, increased demand and production led to higher purchasing activity, resulting in a rise in pre-production inventories in November.
"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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