No. 25/278/DKom
The latest Prompt Manufacturing Index-Bank Indonesia (PMI-BI) reading in the third quarter of 2023 points to increasing manufacturing industry performance, remaining in an expansionary phase (index >50%), as reflected by a higher PMI-BI of 52.93% compared to 52.39% in the previous period. Increases were recorded across several PMI-BI components, particularly production volume and inventory, while order volume remained in expansionary territory. Most manufacturing subsectors recorded gains, led by the transportation equipment industry, machinery and equipment industry as well as non-metallic mineral products industry. The PMI-BI trend is also consistent with the latest expansionary manufacturing industry findings presented in the Business Survey published by Bank Indonesia, where the corresponding Weighted Net Balance (WNB) stood at 2.81%.
Survey respondents forecast manufacturing industry performance to remain solid in the fourth quarter of 2023, with the PMI-BI still occupying expansionary territory at 52.25%. Respondents predict most PMI-BI components in an expansionary phase, led by production volume, followed by inventory and order volume. In addition, respondents expect most manufacturing subsectors to experience an expansionary phase, with the highest index reading recorded by the leather, leather products and footwear industry, followed by the transportation equipment industry and non-metallic mineral products industry.
More information concerning the Prompt Manufacturing Index-Bank Indonesia (PMI-BI) is available via the Bank Indonesia website.
Jakarta, 13th October 2023
Communication Department
Erwin Haryono
Executive Director
Information on Bank Indonesia
Tel. 021-131, email: bicara@bi.go.id
