JAKARTA - Manufacturing Industry growth is predicted to reach 54.31% in the second quarter of 2024, continuing the realization of growth in the first quarter of 2024. This achievement will continue the expansion phase of the Processing Industry Business Field in the first semester of this year.

In a press release published on Monday (22/4), Erwin Haryono, Assistant Governor, Communications Department of Bank Indonesia (BI) said that all components of the processing industry were in an expansion phase with the highest index in the finished goods inventory volume, production and total components order. "Business sub-sectors are also expected to increase, with the highest index in the leather, leather goods and footwear industry, as well as the tobacco processing industry, machinery and equipment," he said.

In the first quarter of 2024, BI also recorded a growth in the Manufacturing Industry of 52.80%, higher than the range of 51.20% in the fourth quarter of 2023. This achievement is in line with the results of the BI Business Activity Survey (SKDU), which is in the expansion phase with a weighted net balance value of 1.71%.

BI's Prompt Manufacturing Index (PMI) shows that the LU performance of the Manufacturing Industry in the first and second quarters of 2023 is at the level of 50.75% and 52.39%. (LK/LM)