Jakarta: The latest Prompt Manufacturing Index-Bank Indonesia (PMI-BI) indicated stronger manufacturing industry expansion in the second quarter of 2021, increasing to 51.45% from 50.01% in the first quarter of 2021 and 28.55% in the second quarter of 2020.
The higher PMI-BI confirms recent findings published in the Business Survey (SKDU) that also point to expanding manufacturing industry activity.
Broad gains were recorded across nearly all PMI-BI components, particularly production volume and order volume that remained in expansionary territory.
By subsector, most respondents reported improving performance in the second quarter of 2021, led by Food, Beverages and Tobacco; Paper and Printing; as well as Fertilizers, Chemicals and Rubber Products, which maintained an expansionary posture on the back of seasonal demand during the Ramadan and Eid-ul-Fitr festive period.
"Bank Indonesia will carefully monitor the impact of emergency public activity restrictions (PPKM) introduced by the government that could affect PMI-BI performance in the third quarter of 2021," said BI Communication Department Head Erwin Haryono in a press release issued on Wednesday.
Respondents predicted manufacturing industry moderation in the third quarter of 2021, with the PMI-BI slipping to a contractionary 49.89%, held back by all components, particularly production volume, inventory and labor utilization, which moved into contractionary phases.
In addition, respondents expected most subsectors to moderate, especially Paper and Printing; Food, Beverages and Tobacco; as well as Transportation Equipment, Machinery and Apparatus.
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