JAKARTA - The performance of the Manufacturing Industry sector in the third quarter of 2022 is indicated to remain strong and is in the expansion phase. This is reflected in the prompt Manufacturing Index (PMI-BI) for the third quarter of 2022 at 53.71% or is in the expansion phase (index >50%), an increase from 53.61% in the previous quarter.
The increase was driven by the components that make up the PMI-BI, especially production volume, finished goods inventory volume, and the number of workers. This increase occurred in the majority of sub-sectors, with the highest index being in the Cement & Non-Metal Minerals sub-sector (58.91%), Iron and Steel Base Metals sub-sector (56.62%) and Paper and Printed Goods sub-sector (55.63%) .
The PMI-BI development is in line with developments in the Manufacturing Industry sector as a result of the Bank Indonesia Business Activity Survey (SKDU) which was positive and increased with a Weighted Net Balance (WBT) of 3.18%.
In the fourth quarter of 2022, manufacturing sector performance is predicted to remain strong and in the expansion phase, although not as high as the performance in the previous quarter. PMI-BI in the fourth quarter of 2022 is forecasted at 53.18%, slightly lower than 53.71% in the third quarter of 2022. A number of sub-sectors are forecasted to increase, particularly the Base Metals and Steels (58.54%) and Fertilizers, Chemicals & Goods sub-sectors from Rubber (52.37%). Meanwhile, the Transport Equipment, Machinery & Equipment subsector (49.63%) could record a contraction. (LM)