Purchasing Managers' Index (PMI) survey for Indonesia's Manufacturing sector, released by S&P Global, indicates that the index reached 53.3 in July, a significant increase compared to June's level of 52.5. In a written statement, Minister of Industry, stated that this remarkable achievement is the highest in the past 10 months, since September 2022. The sharp rise in the expansion rate for the month of July is the highest since September 2022 or the past 10 months. This achievement also reflects the high level of optimism among the manufacturing industry players in Indonesia, despite the global economic instability and weakened international markets. Industrial expansion is also reflected in the Industrial Confidence Index (IKI) for July, which reached 53.31. This means that the expansion rate of Indonesia's manufacturing PMI and IKI are in sync.
 
According to the Minister of Industry, these indicators show that Indonesia is not experiencing deindustrialization. Therefore, the government is determined to continuously create a more conducive business climate for industrial players in the country, such as policies that accelerate the development of electric vehicle ecosystems. Moreover, the considerable increase in domestic demand has also boosted national manufacturing production activities. The rise in sales driven by domestic demand remains the main sentiment for positive economic prospects in the future. Therefore, The Ministry remain committed to implementing the Domestic Product Utilization Improvement Program (P3DN).
 
Source: https://www.antaranews.com/berita/3661170/pmi-manufaktur-ri-juli-533-persen-tertinggi-dalam-10-bulan-terakhir