Jakarta: Indonesian Industry Minister Agus Gumiwang Kartasasmita is optimistic that the performance of the country's manufacturing sector will continue to improve in the fourth quarter of 2020.
According to the Functional Groups (Golkar) Party politician, all stakeholders are currently implementing a wide range of adjuctments to increase efficiency and maintain business activities.
"One of the measures is utilizing technology to overcome the impacts of the ongoing covid-19 pandemic," the minister said in a written statement on Thursday.
According to the latest Prompt Manufacturing Index-Bank Indonesia (PMI-BI), the manufacturing industry experienced a shallower contraction in the third quarter of 2020, as confirmed by an increase in the PMI-BI to 44.91 percent from 28.55 percent in the second quarter of 2020.
The latest reading, however, is still below the 52.04% recorded in the third quarter of 2019.
Improvements were reported across all PMI-BI components, led by order volume, in line with adaptation to the new normal era, which has stimulated demand and facilitated distribution.
All manufacturing industry subsectors recorded gains in the third quarter of 2020, dominated by Cement and Non-Metal Mineral Products, followed by Food, Beverages and Tobacco.