Jakarta: The latest Business Survey performed by Bank Indonesia (BI) revealed how business expansion was maintained in the third quarter of 2021 despite moderation compared with conditions in the previous period.
"This was confirmed by a decrease in the weighted net balance (WNB) to 7.58% in the third quarter of 2021 from 18.98% in the second quarter of 2021," BI Communication Department Group Head Muhammad Nur said in a press release on Wednesday.
"Agriculture, Plantations, Livestock, Forestry and Fishing posted gains on the back of the food crop and plantation harvesting season as well as fishing in several regions," he stated.
Meanwhile, Mining and Quarrying, Trade, Accommodation and Food Service Activities as well as the Manufacturing Industry experienced moderation as a corollary of mobility restrictions.
Consistent with business activity, production capacity utilisation decreased to 73.30% in the third quarter of 2021 from 75.33% in the previous period, while labour utilisation slumped into a deeper contraction, yet corporate financial conditions remained normal.
In the fourth quarter of 2021, respondents predicted stable business activity, with a WNB of 7.46%.
The performance of several major sectors was expected to improve, led by the Manufacturing Industry, Trade, Accommodation and Food Service Activities as well as Transportation and Communication, when the Government relaxes mobility restrictions.
In line with historical trends during the planting season, however, Agricultural, Plantation, Livestock, Forestry and Fishing moderation is anticipated, while respondents expect inclement weather moving into the wet season to impact Mining and Quarrying as well as Construction sector performance in the fourth quarter of 2021.
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