Indonesia's factory activity slows in February

Indonesia’s manufacturing growth slowed down in February after hitting a six-year high the previous month as flooding and the COVID-19 pandemic disrupted the sector. The country’s Purchasing Managers’ Index (PMI) dropped to 50.9 in February from 52.2 in the previous month, business information provider IHS Markit reported on Monday.

The index, a gauge of the sector based on a monthly survey of roughly 400 manufacturers, still stood above the 50-point threshold and thus signaled a sustained expansionary trend that began in November. A reading below the threshold suggests a contraction from the previous month. “Recent elevated COVID-19 case numbers show that the pandemic continues to disrupt operations,” IHS Markit economics director Andrew Harker was quoted as saying in a press release issued Monday. Read also: Indonesia&#3…