Bank Indonesia Survey Reveals Business Activities Continue To Increase Along With Easing Mobility

JAKARTA - Bank Indonesia (BI) reports that based on the results of the Business Activity Survey (SKDU) it was found that there was an increase in business activity in the second quarter of 2022.

Head of the BI Communications Department Erwin Haryono said the indication was reflected in the value of the Weighted Net Balance (WNB) of 14.13 percent or higher than the WNB in the first quarter of 2022 of 8.71 percent.

Improvements in business performance occurred in the manufacturing, trade, hotel and restaurant sectors, as well as transportation and communications, in line with the easing of mobility restrictions and the celebration of National Religious Holidays (HBKN)," he said in a press statement, Thursday, July 14.

Erwin also revealed that used production capacity in the second quarter of 2022 was 73.22 percent, an increase from 73.08 percent in the previous quarter.

“The use of labor is indicated to be improving and is out of the contraction phase. The financial condition of the business world has also improved compared to the previous period, particularly in terms of liquidity and profitability with easier access to financing," he said.

Meanwhile, for the third quarter of 2022, respondents predict that business activities will remain strong with a WNB of 13.75 percent.

Erwin said, the continued strength of business activities was driven by the performance of several sectors such as the mining and quarrying sector; and the manufacturing industry in line with the availability of production facilities and the construction sector according to historical patterns and increasing domestic demand.

"Meanwhile, the slowdown occurred in the agriculture, plantation, livestock, forestry and fisheries sectors, especially the food crops sub-sector (including horticulture) in line with the historical pattern of the growing season," he concluded.