Data from S&P Global shows that Indonesia's manufacturing index, measured by the *Purchasing Manager's Index* (PMI), reached the highest level among ASEAN countries, scoring 53.6 points in February 2025.
This figure indicates expansion, exceeding the 50-point threshold. Furthermore, Indonesia's score increased by 1.7 points from January 2025, which stood at 51.9. S&P stated that Indonesia's February 2025 score represents its highest growth in 11 months.
The Philippines followed in second place with a PMI score of 51 points. However, this figure decreased from January 2025, when it reached 52.3 points.
Third place went to Singapore, with a score of 50.7 points. This score improved from January 2025, which recorded 49.9 points.
Slightly below Singapore was Thailand, scoring 50.6 points, an increase from 49.6 points in January 2025.
Outside the top four, the PMI scores of other Southeast Asian countries fell into the contraction phase (below 50 points). These include Malaysia (49.7 points), Vietnam (49.2), and Myanmar (48.5).
Note that data was unavailable for Laos, Cambodia, Brunei Darussalam, and Timor-Leste.
S&P Global reported that the ASEAN PMI reached its highest level in seven months at 51.5 in February 2025, up from 50.4 in January. This monthly increase has been recorded since January 2024.
"The sector's stronger performance was supported by a solid and faster increase in new orders and output," wrote S&P Global, as quoted on Tuesday (March 18, 2025).
This strong increase occurred over the past six to seven months. S&P Global noted that ASEAN producers recorded increased confidence in production prospects in February.
The research team added that the increased production needs and anticipation of increased workloads led companies to respond by expanding their operational capacity.
"Purchasing activity and employment increased further," wrote S&P Global.
(See also: [Indonesia's Manufacturing Sector Grew in February 2025, Reaching an 11-Month High])