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

Manufacturing Industry Recorded Decline in Q1 2020: Central Bank

English indonesian economy (en)
Wahyu Dwi Anggoro • 13 April 2020 12:48
Jakarta: The manufacturing industry recorded a decline in the first quarter of 2020, with the Bank Indonesia - Prompt Manufacturing Index (PMI) slipping into a contractionary phase at 45.64 percent from 51.50 percent in the fourth quarter of 2019 and 52.65 percent in the first quarter of 2019.
 
All components of the BI-PMI posted declines in the reporting period, most significantly production volume due to compressed demand and supply disruptions stemming from the covid-19 pandemic.
 
"Nearly all sectors recorded a contraction in the first quarter of 2020, excluding Food, Beverages and Tobacco," BI said in a press statement on Monday, April 13, 2020.

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In the second quarter of 2020, survey respondents predicted a slight improvement in the manufacturing industry despite remaining in a contractionary phase with the BI-PMI regaining 48.79 percent from 45.64 percent in the first quarter of 2020.
 
"The gains come amidst growth of delivery of input goods and inventories," it stated.
 
Furthermore, production volume and labour utilisation were expected to improve despite remaining in contractionary territory.
 
(WAH)
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