Illustration (Photo:Medcom.id)
Illustration (Photo:Medcom.id)

Business Conditions Improved in Q3: BI Survey

English indonesian economy (en)
Wahyu Dwi Anggoro • 14 Oktober 2020 12:51
Jakarta: The latest edition of the Business Survey performed by Bank Indonesia (BI) showed that business conditions improved across all economic sectors in the third quarter of 2020, with the weighted net balance (WNB) improving significantly to -5.97 percent from -35.75 percent in the second quarter of 2020.
 
Supported by adaptation to the New Normal in various regions, the main drivers of the recent gains include the Manufacturing Industry; Trade, Accommodation and Food Service Activities; Transportation and Communication; as well as Finance, Real Estate and Corporate Services.
 
On the other hand, improvements in the Agricultural, Forestry and Fishing sector have been supported by conducive weather conditions.

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"Consistent with improving business activity, survey respondents also confirmed higher production capacity and labor utilization in the third quarter of 2020," said BI Communication Departement Head Onny Widjanarko said in a media release on Wednesday.
 
"Meanwhile, liquidity and profitability also increased in the reporting period, along with access to bank loans," he added.
 
Respondents predicted business activity to continue improving in the fourth quarter of 2020, as denoted by WNB of 2.12 percent, in line with optimism that adaptation to the New Normal will stimulate demand.
 
By sector, respondents expected stronger business activity in most economic sectors, particularly Finance, Real Estate and Corporate Services; Trade, Accommodation and Food Service Activities; as well as Transportation and Communication.

 
(WAH)
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