Indonesia’s manufacturing PMI expands to 50.2 in July
The Indonesian Rupiah strengthened in response to encouraging domestic economic indicators.
The country’s manufacturing sector returned to expansion territory in July, with the S&P Global Manufacturing PMI rebounding to 50.2 from June’s 46.9.
This growth was driven by a marginal uptick in factory output and a stabilization in new orders. The USD/IDR pair remains subdued, trading around 18,040, due to widespread weakness in the US Dollar.