Manufacturing Sector Gains Momentum Amid Weakening Export

In May 2023, the manufacturing sector experienced a notable weakening trend, approaching stagnation. This decline comes against the backdrop of a sluggish global economy, making the domestic market increasingly significant.

Moh. Fatkhul Maskur

17 Jun 2023 - 18.28
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Manufacturing Sector Gains Momentum Amid Weakening Export

Indonesia's trade balance surplus has fallen again as of May 2023.- Bisnis Photo

Bisnis, JAKARTA – In May 2023, the manufacturing sector experienced a notable weakening trend, approaching stagnation. This decline comes against the backdrop of a sluggish global economy, making the domestic market increasingly significant.

Earlier in 2023, the Purchasing Managers' Index (PMI) indicated an expansionary pattern. In January, the PMI score saw a slight increase from December, rising from 50.9 to 51.3. However, in February, the figure dipped slightly by 0.1 points to 51.2.

While in March, the PMI showed signs of improvement, reaching 51.9 and reaching its peak at 52.7 in April. Regrettably, in May, the manufacturing PMI took a significant downturn, plummeting by 2.7 points to 50.3, approaching contraction levels.

The Ministry of Industry organized a work meeting with the theme "Evaluation of Manufacturing Performance Based on the 2023 Purchasing Manager's Index (PMI) Survey and Industrial Confidence Index (IKI)”, aimed to address the challenges faced by the manufacturing industry.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.