Processing Industry Performance to Remain Strong in the Final Quarter of 2024″/>
BANK Indonesia (BI) projects that the business performance (LU) of the processing industry in the fourth quarter of 2024 will remain strong while being maintained in the expansion zone (index > 50%). Based on the constituent components, the majority of components will be in the highest index, namely the production volume component, followed by finished goods inventory volume and total order volume.
“In the fourth quarter of 2024, the LU performance of the processing industry is estimated to remain maintained and reflected in Purchasing Managers‘ Index BI’s (PMI) is 51.13%,” said Executive Director of the BI Communications Department Ramdan Denny Prakoso in an official statement, Thursday (17/10).
He explained that the majority of sub-business fields (sub LU) are projected to be in the expansion phase with the highest index being the machinery and equipment industry with an index of 56.04%, followed by the non-metallic mineral goods industry with an index of 53.71% and the rubber industry, goods made from rubber and plastic with an index of 53.69%. Denny explained in detail. Several other sub-LU areas that are estimated to be in the expansion and increasing phase include the textile and apparel industry with an index of 50.41% and the furniture industry at 52.91%.
Denny said that for the third quarter of 2024, the LU performance of the processing industry was in the expansion phase with a BI PMI of 51.54%. Most sub-LUs are in the expansion phase and support PMI-BI performance, with the highest index in the tobacco processing industry with an index of 59.83%, followed by the non-metallic mineral goods industry with an index of 56.81%, and the machinery and equipment industry with an index of 54 .58%. This development, he continued, was in line with the performance of LU activities in the processing industry based on the results of the Bank Indonesia Business Activity Survey (SKDU), which continued to grow with a Weighted Net Balance (WBT) value of 1.38%.
Apart from that, several other sub-LUs recorded an increase and are in the expansion phase include the furniture industry with an index of 52.85%, the rubber industry, rubber and plastic goods with 53.73%, and the transportation equipment industry with 54.38%.
In the second quarter of 2024, BI noted that the production volume component remained strong with an index of 52.65%, although slower than 53.56% in the previous quarter. Furthermore, production volume in the fourth quarter of 2024 is estimated to remain maintained and is still in the expansion zone with an index of 52.57%.
“This figure is lower than in the second quarter of 2024 due to seasonal factors and the availability of production facilities,” concluded Denny. (D-3)
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