JAKARTA - The performance of the Manufacturing Industry Sector in the second quarter of 2022 is indicated to increase and is in the expansion phase. This is reflected in Bank Indonesia's Prompt Manufacturing Index (PMI-BI) of 53.61%, higher than 51.77% in the first quarter of 2022. The increase occurred in all components that make up the PMI-BI, with the highest index being the production volume component, total order volume, and finished goods inventory volume.
Based on sub-sectors, the increase occurred in the majority of sub-sectors, with the highest index in the Textiles, Leather Goods & Footwear sub-sectors (56.05%), Food, Beverages & Tobacco (54.60%), and Iron & Steel Base Metals (53.47%). The PMI-BI development is in line with the development of the Manufacturing Sector in the Business Activity Survey (SKDU) which was positive and increased with a Weighted Net Balance (WBT) of 2.19%.
Improvements in manufacturing sector performance are forecasted to continue in the third quarter of 2022. The PMI-BI for the third quarter of 2022 is forecasted at 54.02%, up from the previous quarter. The increase in PMI-BI was driven by all of its constituent components, particularly production volume, total order volume, as well as the increasing number of employees who are in the expansion phase.
The majority of sub-sectors are predicted to increase, with the highest indexes being the Cement & Non-Metallic Minerals (54.71%) sub-sector, Transportation Equipment, Machinery & Equipment (54.06%), and Iron & Steel Base Metals (53.60%) (LM)