Indonesia’s PMI Augst 2024

According to data by S&P Global Market Intelligence, Indonesia’s Purchasing Manager’s Index (PMI) reached 48.9 in August, below the 50-point threshold that separates growth from contraction.

The overall contraction in the manufacturing sector is the result of declines in several segments, such as new export orders, production and new contracts. Meanwhile, rates of decline in finished goods inventories and employment accelerated.

In its latest outlook, the International Monetary Fund estimated Indonesia GDP growth rate to be 5 per cent in 2024 and 5.1 per cent in 2025.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2024.