Indonesia's manufacturing activity registered a softer pace of expansion in March versus the previous month, according to the latest S&P Global Indonesia Manufacturing Purchasing Manager's Index (PMI) released on Wednesday.
The PMI slid to 52.4 in March from 53.6 in February. A reading above 50 indicates expansion in the manufacturing sector, while a reading below 50 signals contraction.
The slow growth was driven by softer increases in output and new orders. Employment levels increased at the end of the first quarter, though the pace of job creation slowed to a three-month low and remained modest.
On the price front, input costs continued to rise sharply but at a slower pace, remaining below the series average. As a result, output charges saw only a slight increase.
Looking ahead, the business confidence index improved to a three-year high for the upcoming 12 months, S&P added.
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