Bank Indonesia: Business Activities Increase In The Second Quarter Of 2023

Illustration (Photo: Doc. Antara)

JAKARTA Bank Indonesia (BI) reports that the results of the Business World Activity Survey (SKDU) indicate that the performance of business activities will increase in the second quarter of 2023.

Head of the BI Communication Department Erwin Haryono said this was reflected in the value of the Weighted Net Balance (SBT) of 16.62 percent, higher than the SBT in the first quarter of 2023 of 11.05 percent.

"The increase in business activity performance occurred in the majority of Business Fields (LU), especially at LU Agricultural, Forestry, and Fisheries in line with the historical patterns of the harvest season for food crops (tabama) and horticulture and LU Industry Processing in line with the increase in industrial activity and supporting storage capacity," he said in a press release Friday, July 14.

According to Erwin, the performance of the Construction LU is also indicated to increase in line with the start of domestic project development.

"Large Trade and Retail, Transportation and Warehousing LU, and LU Provision of Accommodation and Drinking Increases in line with the increase in demand during the Religious and National Holidays (HBKN) of Ramadan and Eid Al-Fitr 1444 H," he said.

Erwin explained, in line with the development of business activities, the production capacity used in the second quarter of 2023 was recorded at 74.88 percent, higher than the achievement in the first quarter of 2023 of 72.33 percent.

The use of labor is also indicated to increase and be in the expansion phase. Meanwhile, the financial condition of the business world is indicated to improve from all aspects, namely aspects of liquidity and retability, with access to financing that remains easy," he said.

Furthermore, in the third quarter of 2023, respondents predicted that business activities would remain strong with an SBT of 15.42 percent.

Strong business activities are expected to occur in several secondary LUs, including the LU Processing Industry in line with increasing demand and availability of supporting production facilities and LU Construction in line with increasing demand and continuing domestic projects.

"In addition, the performance of LU Mining and Excavation is also expected to increase in line with seasonal factors, the availability of production facilities, and increase storage capacity," he concluded.