JAKARTA – The performance of the process manufacturing industry is envisioned to soar to 51.7% in Q4 2021 compared to 48.75% in Q4 2020. This growth rate projection is slightly above the growth rate in Q2 2021, bringing it to 51.45%.
In a press release, quoted Wednesday (13/10), Muhamad Nur, the Group Head of Communication Department of Bank Indonesia (BI), stated that the said projection was made considering all its supporting components. They include production volume, orders, and finished goods supply, which are currently expanding. “The majority of subsectors are estimated to grow as well. Moreover, paper and printed goods, cement, and non-metal mining goods are subsectors with the most considerable growth,” he added.
According to Nur, the Prompt Manufacturing Index (PMI) of BI (PMI-BI) for the process manufacturing industry in Q3 2021 is lower than Q2 due to the mobility restriction policies following the COVID-19 cases surge. “The decrease is visible in all components that shape PMI-BI, especially from the input orders, number of employees, production volume, and finished products supply,” he explained.
It was also mentioned that all subsectors in the process manufacturing industry were undergoing contractions in Q3 2021. The lowest index was reported in the wood products and other forestries, transportation tools, machines and equipment, chemical fertiliser, and rubber goods. (LK/ZH)