BI Calls Processing Industry Performance Up To 52.8 Percent

Manufacturing illustration (Photo: dock. Antara)

JAKARTA - Bank Indonesia (BI) noted that the business field performance (LU) of the processing industry increased in the first quarter of 2024. Where, this achievement is still in the expansion phase or index of 50 percent larger.

This is reflected in PMI-BI in the first quarter of 2024 of 52.80 percent, higher than 51.20 percent in the previous quarter.

Assistant Governor of the BI Communications Department Erwin Haryono said, based on the PMI-BI-forming component, most components increased and continued the expansion phase, with the highest index on the Supply Volume of Soal Goods, followed by Total Order Volume and Production Volume.

"Based on Subfield Business (Sub-LU), the majority of Sub-LUs are still in the expansion phase, with the highest index in the Tobacco Processing Industry, followed by the Textile and Jadi Clothing Industry, and the Basic Metal Industry," he quoted the BI website, Jakarta, Monday, April 22.

He said the development of PMI-BI was in line with the development of LU Industri Processing activities as a result of the Bank Indonesia Business Activity Survey (SKDU) which is also in the expansion phase, with a weighted net balance (SBT) value of 1.71 percent.

In the second quarter of 2024, the performance of the LU Industry Processing is predicted to continue to increase in the mirror of PMI-BI which was recorded at 54.31 percent.

Based on its constituents, all components are predicted to be in the expansion phase with the highest index occurring in the finished goods supply volume component, Production volume, and Total Order Volume.

"All sub-LUs are also predicted to be in the expansion phase, with the highest index in the Skin, Skin and Footwear Industry, followed by the Tobacco Processing Industry, as well as the Machine and Equipment Industry," he said.