Indonesia's manufacturing PMI edges down to 50.5 in October
TOKYO -- Manufacturing conditions in Indonesia fell for a second straight month in October and edged closer to the boom-bust breaking point, a survey showed Thursday.
The Nikkei Indonesia Manufacturing Purchasing Managers' Index, or PMI, fell from 50.7 in September to 50.5 in September. A reading above 50 indicates manufacturing is in an expansion while one below 50 suggests a contraction.
The weakening momentum came as both input and output price inflation accelerated to three-year highs, driven by a weak rupiah.
"Indonesia's manufacturing sector lost further momentum at the start of the fourth quarter, reflecting signs of softer demand conditions," said Bernard Aw, economist at IHS Markit, which compiles the survey.
"The relatively weak exchange rate means manufacturers may continue to face greater cost pressure in the months ahead due to greater prices for imported items."
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