Jakarta (ANTARA) - Industry Minister Agus Gumiwang Kartasasmita stated that Indonesia's manufacturing Purchasing Manager's Index (PMI) has been at an expansionary level for 32 consecutive months.

This figure was obtained by the ministry from the release of the manufacturing PMI issued by S&P Global Indonesia, stating that the value of manufacturing purchasing levels in Indonesia in April 2024 was at the level of 52.9 points.

"Our manufacturing PMI in April slightly decreased, but still at a healthy and solid number, namely 52.9 points," he remarked at a business matching event for food and furniture SMEs in Jakarta on Thursday.

He attributed the decline in the manufacturing PMI to the 10-day-long holidays during the 2024 Eid al-Fitr period.

According to Kartasasmita, the expansive and sustainable PMI value for 32 consecutive months was an achievement that could not be attained by all countries.

"There are only two countries in the world that can record 32 consecutive months of expansion, namely India and Indonesia," Kartasasmita stated.

When compared with competing countries, such as Thailand, Malaysia, Japan, and South Korea, which recorded their manufacturing PMI contracting below 50, the minister stated that the index obtained by Indonesia is proof of consistency in maintaining the sustainability of the manufacturing industry.

Earlier, he noted that Indonesia's manufacturing PMI in March was at its highest level for 2.5 years.

This index was obtained from the S&P Global report which recorded that Indonesia's Manufacturing PMI in March was at 54.2 points, or an increase of 1.5 points as compared to the achievement in February of 52.7 points.

The minister stated that Indonesia's manufacturing PMI performance in March 2024 was better than the manufacturing PMI of other countries which were still in the contraction phase, such as Malaysia, at 48.4; Thailand, with 49.1; Vietnam, at 49.9; Japan, with 48.2; South Korea, at 49.3; Germany, with 41.6; France, at 45.8; and England, with 49.9.

In order to continue to increase the economic value and improve the performance of the manufacturing sector, Kartasasmita underscored the need for strategic policy support, such as through the implementation of Certain Natural Gas Prices (HGBT) in all industrial sectors.

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Translator: Ahmad Muzdaffar F, Resinta Sulistiyandari
Editor: Rahmad Nasution
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