Jakarta: The latest edition of the Business Survey performed by Bank Indonesia (BI) revealed increasing business activity in the first quarter of 2021, with the weighted net balance (WNB) moving into positive territory at 4.50% from -3.90% in the fourth quarter of 2020.
By sector, the increase was driven by positive performance of Mining and Quarrying; Agriculture, Plantation, Livestock, Forestry and Fishing; as well as the Manufacturing Industry.
Respondents disclosed that mining sector gains were driven by strong demand, while the food crop-harvesting season boosted agricultural performance and a seasonal spike in demand in anticipation of the holy fasting month of Ramadan and Eid-ul-Fitr edged up manufacturing industry performance.
"In line with increasing business activity, production capacity utilization increased to 73.3% in the first quarter of 2021 from 71.96%, while labor utilization improved despite remaining in a contractionary phase, with corporate financial conditions remaining normal," said BI Communication Department Head Erwin Haryono in a press release on Wednesday.
In the second quarter of 2021, respondents predicted further business activity improvements, as indicated by a WNB of 18.87%.
Respondents predicted gains across all economic sectors, led by the Manufacturing Industry; Trade, Accommodation and Food Service Activities; as well as Agriculture, Plantation, Livestock, Forestry and Fishing.
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