Jakarta: The latest Business Survey conducted by Bank Indonesia (BI) indicates stronger business expansion in the first quarter of 2022, as reflected by an increase in the corresponding weighted net balance (WNB) to 8.71% from 7.10% in the fourth quarter of 2021.
Business activity in the Agricultural, Plantation, Livestock, Forestry and Fishing sector, specifically the Food Crop subsector, is indicated to expand in line with historical trends during the harvesting season, as well as the Manufacturing Industry given greater industrial activity and mobility.
"Consistent with increasing business activity, production capacity utilisation improves in the first quarter of 2022 to 73.08% from 72.60% in the previous period," BI Communication Department Head Erwin Haryono said in a media release on Thursday.
Labour utilisation also improves despite remaining a contractionary phase.
Meanwhile, corporate financial conditions are indicated to improve compared to the previous period, particularly in terms of liquidity, supported by easier access to finance.
A WNB of 23.24% reveales how survey respondents predict business activity to accelerate in the second quarter of 2022, driven by several key sectors, particularly Mining and Quarrying, the Manufacturing Industry as well as Trade, Accommodation and Food Service Activities on the back of a seasonal spike in public activity during the Eid-ul-Fitr national religious holidays (HBKN), coupled with looser mobility restrictions.
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