BI Study Reveals Business Fields In Quarter II Are Better Than Before

JAKARTA The Bank Indonesia (BI) study revealed that the performance of the Business Field (LU) processing industry in the second quarter of 2023 increased and was in the expansion phase.

Head of the BI Communication Department Erwin Haryono said that this was reflected in PMI-BI in the second quarter of 2023 of 52.39 percent, higher than 50.75 percent in the previous quarter.

"The increase occurred in all components forming PMI-BI, especially production volume, order volume, and finished goods inventory volume which are in the expansion phase (index>50)," he said on Friday, July 14.

According to Erwin, based on Subfield Business (SubLU), the increase occurred in the majority of SubLU, with the highest index occurring in the Skin, Skin and Footwear Industry, followed by the engine and equipment industry, the non-metal excavation industry, as well as the chemical, pharmaceutical, and traditional medicine industries.

"The development of PMI-BI is in line with the development of LU activities in the business activity processing industry (SKDU) survey results of Bank Indonesia which recorded an increase with a weighted net balance (SBT) value of 2.21 percent," he said in a press release today, Friday, July 14.

Erwin explained, in the third quarter of 2023 the increase in the performance of the LU Processing Industry is expected to continue with an index of 53.53 percent, higher than 52.39 percent in the previous quarter.

"Based on the components of its formation, almost all components are expected to increase and be in the expansion phase with the highest increase occurring in production volume, followed by the speed of acceptance of input goods, and the volume of finished goods supplies," he said.

In addition, Erwin continued, the entire SubLU is expected to be in an expansion phase, with the highest index occurring in the engine and equipment industry, followed by the tobacco processing industry, and the basic metal industry.