Manufacturing Industry Experienced Shallower Contraction in Q3: BI

    Wahyu Dwi Anggoro - 14 Oktober 2020 15:02 WIB
    Manufacturing Industry Experienced Shallower Contraction in Q3: BI
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    Jakarta: The manufacturing industry experienced a shallower contraction in the third quarter of 2020, as confirmed by an increase in the Prompt Manufacturing Index-Bank Indonesia (PMI-BI) to 44.91 percent from 28.55 percent in the second quarter of 2020. 

    "The latest reading, however, is still below the 52.04 percent recorded in the third quarter of 2019," said BI Communication Department Head Onny Widjanarko said in a media release on Wednesday.

    Improvements were reported across all PMI-BI components, led by order volume, in line with adaptation to the new normal era, which has stimulated demand and facilitated distribution. 

    All manufacturing industry subsectors recorded gains in the third quarter of 2020, dominated by Cement and Non-Metal Mineral Products, followed by Food, Beverages and Tobacco.

    Survey respondents predicted further improvements in the fourth quarter of 2020, despite the manufacturing industry remaining in a contractionary phase at 47.16 percent compared with 44.91 percent in the third quarter of 2020. 

    Respondents expected nearly all PMI-BI components to improve, led by inventory.


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