Jakarta: The latest Prompt Manufacturing Index-Bank Indonesia (PMI-BI) reading remained strong and in an expansionary phase (>50%) in the third quarter of 2022 at 53.71%, up from 53.61% in the previous period.
The increase was supported by all components, particularly production volume, inventory and labour.
Furthermore, increases were recorded across most subsectors, led by Cement and Non-Metallic Mineral Products (58.91%), Basic Iron and Steel (56.62%) as well as Paper and Printing (55.63%).
"The PMI-BI trend is consistent with the latest Manufacturing Industry findings as presented in the Business Survey (SKDU) published by Bank Indonesia, where the corresponding weighted net balance (WNB) increased to 3.18%," BI Communication Department Director Junanto Herdiawan said in a media release on Thursday.
Survey respondents expect the Manufacturing Industry gains to persist in the fourth quarter of 2022 and remain in expansionary territory despite retreating to 53.18% from 53.71% in the third quarter of 2022.
Respondents predict several components, namely order volume, production volume, inventory and supplier delivery times, to remain in an expansionary phase.
Furthermore, respondents anticipate improvements in several subsectors, particularly Basic Iron and Steel (58.54%) as well as Fertiliser, Chemicals and Rubber Products (52.37%).
In contrast, the Transportation Equipment, Machinery and Apparatus subsector (49.63%) is expected to move into a contractionary phase.
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