Hooray! Business Activities Proven to Grow Positively at the End of 2021

JAKARTA - Bank Indonesia has released a report on the results of the Business Activity Survey (SKDU) with the conclusion that in the fourth quarter of 2021 there will be positive growth in the business world.

This is reflected in the value of the Weighted Net Balance (WNB) of 7.10 percent, or slightly lower than the WNB 7.58 percent in the third quarter of 2021, but increased compared to the WNB of minus 3.90 percent in the fourth quarter of 2020.

Head of the BI Communications Department Erwin Haryono said the improvement in performance was indicated in the manufacturing, trade, hotel, and restaurant sectors as well as transportation and communications.

"The encouraging results are driven by increasing demand in line with the easing of mobility restrictions in various regions, as well as the celebration of the National Religious Holidays (HBKN) Christmas and year-end holidays," he said as reported by the official website, Friday, January 14.

According to Erwin, used production capacity in the fourth quarter of 2021 was recorded at 72.60 percent, slightly lower than 73.30 percent in the previous quarter, but higher than 71.96 percent in the fourth quarter of 2020.

“The use of labor is indicated to improve even though it is still in the contraction phase. Meanwhile, the financial condition of the business world is indicated to be improving compared to conditions in the previous period, both in terms of liquidity and profitability, supported by easier access to financing," he explained.

Furthermore, Erwin said that in the first quarter of 2022, respondents predict that business activities will increase with WNB 9.39 percent. The increase came from several key sectors that recorded a positive performance, particularly the agriculture, plantation, livestock, forestry, and fishery sectors.

"We believe that the period for the harvest season for food crops and the manufacturing sector will increase demand," he concluded.