No. 26/147/DKom
The latest Prompt Manufacturing Index – Bank Indonesia (PMI-BI) reading taken in the second quarter of 2024 remained solid in an expansionary territory (index >50%) at 51.97%. Most PMI-BI components maintained an expansionary phase, led by production volume, followed by inventory and order volume. Meanwhile, supplier delivery time increased compared to the previous quarter. Furthermore, the majority of manufacturing subsectors remained in expansionary territory to support PMI-BI performance, with the highest index recorded for the leather, leather products and footwear industry, followed by the tobacco processing industry as well as the machinery and equipment 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) was recorded at 1.65%.
In the third quarter of 2024, respondents expect the upward manufacturing industry performance trend to endure, as reflected by a higher PMI-BI of 54.18%. Respondents predict all PMI-BI components to increase and occupy expansionary territory, led by production volume, followed by inventory and order volume. In addition, respondents also anticipate all manufacturing subsectors in an expansionary phase, with the highest index reading for the tobacco processing industry, followed by the furniture industry as well as the non-metallic mineral products industry.
More Information concerning the Prompt Manufacturing Index (PMI-BI) is available via the Bank Indonesia website.
Jakarta 18th July 2024
Communication Department
Erwin Haryono
Assistant Governor
