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<Econ> Indonesia Apr CPI Rises 2.42% YoY, Below Forecast; Mar Exports Turn Down 3.1% YoY, Miss; Apr Manufacturing PMI Contracts for First Time in Nine Months
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Statistics Indonesia announced that Indonesia's Consumer Price Index (CPI) in April rose 2.42% YoY, below market expectations of a 2.7% increase and down from the previous 3.48% rise. On a MoM basis, CPI increased 0.13%, below the expected 0.32%. Core inflation in April rose 2.44% YoY, broadly in line with market expectations of a 2.46% increase and compared with the prior 2.52%; it rose 0.23% MoM. Indonesia's trade surplus widened to USD3.32 billion in March, beating market expectations of a USD2.113 billion surplus and up from the previous USD1.28 billion surplus. Exports in March fell 3.1% YoY, missing market expectations for a 0.62% increase and reversing from the prior 1.01% rise. Imports rose 1.51% YoY, far below the expected 10.63% growth and compared with the previous 10.85% increase. S&P Global reported that, after seasonal adjustment, Indonesia's S&P Global Manufacturing Purchasing Managers' Index (PMI) fell from 50.1 in March to 49.1 in April, indicating a deterioration in operating conditions and marking the first contraction in nine months, slipping below the 50 breakeven level. Manufacturing output declined for a second consecutive month during the period, with the pace of contraction the fastest since May last year, mainly due to rising raw material prices, supply shortages and weakening customer purchasing power. Although total new orders recorded slight growth, this was largely driven by clients placing orders in advance to hedge against future price increases and supply disruptions, while export orders showed a marked contraction. Employment levels declined in April, with the pace of job cuts the steepest in ten months. Supplier delivery times lengthened for a seventh consecutive month due to logistics delays caused by the conflict in the Middle East. On prices, input cost inflation accelerated to the highest level since April 2022. Companies raised selling prices sharply to cope with higher costs, marking the largest increase since October 2013. Looking ahead to the next 12 months, manufacturers remained optimistic about output growth, but confidence fell to a five-month low amid concerns that the Middle East conflict could be prolonged. (da/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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