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Indonesia’s Nikkei manufacturing purchasing managers’ index in May eased, remaining well above the 50-point mark, indicating softer improvement in the overall business conditions of the economy.
The Nikkei Indonesia Manufacturing PMI fell to 50.6 in May from 50.9 in April, data released by MArkit on Wednesday showed.
"May's stagnation in output is unwelcome news, given that manufacturers have only recently seen the end of a prolonged sequence of 17 months of contraction in production," said Pollyanna De Lima, Economist, Markit.
Further, total new orders rose at a weaker pace in May than that in April amid continued fall in external demand. Consequently, firms kept production levels unchanged compared with the previous month, reports confirmed.
Input costs rose further, with inflation the strongest in the year-to-date. There were reports of higher prices paid for metals, chemicals, plastics, textiles and paper. Part of the additional cost burden was passed on to clients, as highlighted by another increase in average selling prices. The rate of output charge inflation was at a three-month high, despite being slightly below its long-run average, Markit reported.
De Lima further added that the outlook, however, remains positive as businesses continue to hire additional workers amid improved buying activity, highest since July 2014, which fosters an improved demand picture in the near term.
