The Head of the Fiscal Policy Agency (Badan Kebijakan Fiskal) at the Ministry of Finance, stated that Indonesia's Purchasing Managers' Index (PMI) for manufacturing in September 2023 remained expansive despite a slowdown. The manufacturing PMI for Indonesia in September was recorded at 52.3, a decrease compared to August, which stood at 53.9. Overall, business sentiment remained positive in September, with each index above the 50.0 level. According to him, the position of Indonesia's manufacturing PMI in September was primarily supported by increased new demand and export demand. Meanwhile, Manufacturing PMI in several major world economies, such as the United States and Japan, remained contracted, at levels of 48.9 and 48.5, respectively. Although still in the expansive zone at 50.6, China's Manufacturing PMI slowed down from the previous month's level of 51.0.

The government would continue to anticipate the potential slowdown in the global economy, particularly in China, as the trend of slowing global growth, especially in Indonesia's main trading partner countries like China, would impact the national economy. Despite China's economic growth this year estimated to reach 5.1%, the economy for the following year is projected to slow significantly to 4.4%. On the other hand, the World Bank has slightly revised its projection for Indonesia's economic growth in 2023 to 5.0%, up from the previous 4.9%. For 2024, Indonesia's economic growth is projected to remain at 4.9%. The Ministry will continue to monitor and mitigate various global risks and uncertainties that have shown recent increases, including the potential for a deeper slowdown in the global economy, especially in China's economy.

Source: https://m.antaranews.com/amp/berita/3754596/kemenkeu-pmi-manufaktur-september-tetap-ekspansif