TOKYO -- The Nikkei Indonesia Manufacturing Purchasing Managers' Index, or PMI, fell to a one-year low of 48.6 in July from 49.5 in June.
A reading above 50 indicates economic expansion, while one below 50 points toward contraction. Latest figure marked second consecutive month of contraction.
"Indonesia manufacturers reported another difficult month in July, with ouput falling at an accelerated pace amid a drop in new business inflows," said Pollyanna De Lima, principal economist at IHS Markit, which compiles the survey.
"A subdued demand environment both domestically and externally held back the sector, with companies trimming stock levels, purchasing and employment in response," the economist said.
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