BI Reveals Business Activities Remain Strong In Quarter IV 2023

Illustration (Photo: Doc. Antara)

JAKARTA - Bank Indonesia revealed that the results of the Business Activity Survey (SKDU) indicated that the performance of business activities remained strong in the fourth quarter of 2023.

Executive Director of the BI Communication Department Erwin Haryono said that this development was reflected in the value of the Weighted Net Balance (SBT) of 13.17 percent in the fourth quarter of 2023.

Although lower than the previous quarter by 15.65 percent.

According to Erwin, the performance of business activities that remains strong is supported by the performance of several business fields (LU) which has increased compared to the previous quarter, including the LU of Big Trade and Retail and Car and Motor Repair.

"As well as the Transportation and Warehousing LU, the LU for the provision of Accommodation and Drinking, as well as the LU for Information and Communication in line with the maintenance of public demand during the Christmas National Religious Holiday (HBKN) and New Year holidays," he explained in his official statement Thursday, January 18.

In line with the performance of business activities, the production capacity used in the fourth quarter of 2023 remained strong at 73.91 percent.

Although lower than in the third quarter of 2023, it was recorded at 75.17 percent.

Erwin said, the use of labor is also indicated to remain strong accompanied by improving business world financial conditions in all aspects, namely aspects of liquidity and liabilities, as well as easier access to financing.

According to Erwin, in the first quarter of 2024, respondents estimated that business activities would increase with SBT of 15.38 percent.

"Business activities in all of LU are predicted to grow positively, mainly driven by LU Industri Pengolahan and LU Mining and Excavation which grew higher than in the previous quarter," he said.

Erwin said that the increase was a step for business actors to meet domestic demand, especially ahead of the 2024 Ramadan period.

In addition, LU Agricultural, Forestry, and Fisheries has increased in line with the harvest season for food crop commodities in a number of areas (mostly Java and parts of Sumatra and Sulawesi).