TOKYO -- The Nikkei Indonesia Manufacturing Purchasing Managers' Index, or PMI, slipped to 50.7 in March from 51.4 in February. The February reading was 20-month high, but softer expansions in both output and new orders caused the fall in the headline PMI.
A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.
"PMI data suggested that any improvements in demand stemmed from domestic markets, while sales in international markets reportedly fell due to uncompetitive prices," said Aashna Dodhia, economist at IHS Markit, which compiles the survey.
"Bank Indonesia's decision to keep policy rates unchanged and its efforts to stabilize the exchange rate may help support the recovery in credit growth and domestic consumption as we head into the second quarter," Dodhia added.
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