As we enter 2022, JCI’s movement may still lack new sentiments. Investors will pay close attention to the routine economic data releases, such as Inflation and Manufacturing PMI. Bloomberg’s consensus survey project inflation to go up 0.53% in December 2021. Thus, Indonesia’s inflation in 2021 will be around 1.83%; well below the target of Bank Indonesia. Meanwhile, the Manufacturing PMI is expected to maintain its expansive momentum, after reaching its all time high of 57.2 in October 2021.
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