The S&P Global Indonesia Manufacturing PMI rose to 51.3 in July 2022 from 50.2 in July, signaling the highest print since April. The latest figure also pointed to the 11th straight month of growth in factory activity, amid quicker increases in both output and new orders. Also, firms expanded their workforce numbers, as the rate of job creation accelerated to the steepest on record; while backlogs of work were broadly unchanged. At the same time, buying levels grew at the fastest pace since January, despite contractions in both pre-and post-production inventories. Meantime, export sales fell for the second month running, with the rate of the drop the steepest since August 2021 amid lingering global uncertainty. On the cost side, inflationary pressures eased, as input costs and output charges both rose at the slowest pace for over a year. Lastly, confidence hit its highest since April, on hopes of price stability and increased demand.
