JAKARTA - Bank Indonesia (BI) estimated that the performance of Manufacturing Industry (IP) would continue to strengthen and even enter expansion phase in the first quarter of 2021. This was conveyed by Erwin Haryono, Executive Director, Head of Communication Department of BI, in a press realease quoted on Wednesday (13/1).

According to him, BI's Prompt Manufacturing Index (PMI) would reach 51.14% in the first quarter of 2021, higher than the fourth quarter of 2020 of 47.19%. "There will be sub-sectors to expand, such as food and drink, tobacco, cement, non-metal minerals, fertilizers, chemicals, and printed materials," said Haryono.

He explained that manufacturing sector had been strengthening since the third quarter of 2020; which was recorded at 44.91%, higher than in the second quarter of 2020 at 28.55%. "All components of BI PMI have shown improvement, especially in production volume and faster delivery," added Haryono. (LK/VA)