Sri Mulyani: Indonesia's Manufacturing Index Improves amid Weak Global Economy
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24 July 2023 13:05 WIB
TEMPO.CO, Jakarta - Indonesia's Minister of Finance Sri Mulyani Indrawati said that the global economy is showing a more apparent tendency to weaken. However, Indonesia's manufacturing index manages to climb.
Looking at the Manufacturing Purchasing Managers Index (PMI), 61.9 percent of developed countries experienced contractions. "This means that the PMI is below 50. These are nations that have a very large role in the world economy: America, Germany, France, England, Japan and Korea," she said in a press conference streamed live on YouTube, Monday, June 24.
Meanwhile, there were 23.8 percent of countries whose PMI experienced slowing expansion, namely China, Thailand, the Philippines, India and Russia.
As for the remaining 14.3 percent of the countries, they experienced expansion and acceleration, scoring above 50 and climbing. "These include Indonesia, Turkey and Mexico," said Sri Mulyani.
She said that looking at the PMI, Indonesia continues to remain in an expansionary position, and the expansion is currently accelerating. However, Indonesia must remain alert as most countries that are world economic actors are experiencing a deceleration of contraction.
Sri Mulyani reminded that the weakening PMI in developed countries needs to be watched out for as it will affect the condition and performance of the global economy.
MOH. KHORY ALFARIZI
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