Indonesia’s PMI December 2024

According to data by S&P Global Market Intelligence, Indonesia’s Purchasing Manager’s Index (PMI) reached 51.2 in December, above the 50-point threshold that separates growth from contraction.

Factory activity experienced its first growth since June, with new orders rising for the first time in six months, and overseas sales showing a slight improvement, marking their first gain in nearly a year. Purchasing activity continued to grow for the second month in a row, reaching its highest level since May. Staffing levels also saw their first net increase in three months, albeit modest, which led to a slight rise in backlogs of work for the first time since May. On the cost side, input price inflation remained elevated, driven by a strong dollar, but stayed below the survey's average. Additionally, vendor performance deteriorated for the first time in three months, reflecting some ongoing supply chain challenges.

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.