Indonesia manufacturing output stagnates in July, costs surge: HSBC
JAKARTA (REUTERS) - Manufacturing output in Indonesia stagnated in July as input costs soared and export orders fell, HSBC Markit's purchasing managers' index survey showed on Thursday.
Overall manufacturing business conditions improved, but just a little, the survey concluded. Its July index for Indonesian manufacturing was 50.7, compared with the previous reading of 51.0.
A survey reading above 50.0 signals expansion and a reading below that means contraction in manufacturing activity.
"Manufacturing conditions in July improved only marginally, reflecting increasing external drag as new export orders contracted for a second straight month," said Su Sian Lim, economist at HSBC.