No. 26/78/DKom
The latest Prompt Manufacturing Index-Bank Indonesia (PMI-BI) reading in the first quarter of 2024 increased to move deeper into an expansionary phase (index >50%) at 52.80% from 51.20% in the previous period. Most PMI-BI components increased and maintained an expansionary phase, led by inventory, followed by order volume and production volume. Furthermore, most manufacturing subsectors remained in expansionary territory, with the highest index recorded for the tobacco processing industry, followed by the textiles and wearing apparel industry, as well as the basic metals 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 1.71%.
In the second quarter of 2024, survey respondents forecast the upward manufacturing industry performance trend to persist, as reflected by a PMI-BI of 54.31%. Respondents expect all PMI-BI components in an expansionary phase, led by inventory, production volume, and order volume. Meanwhile, respondents also predict all manufacturing subsectors to occupy expansionary territory, led by the leather, leather products and footwear industry, followed by the tobacco processing industry and the machinery and equipment industry.
More Information concerning the Prompt Manufacturing Index (PMI-BI) is available via tha Bank Indonesia website.
Jakarta 22nd April 2024
Communication Department
Erwin Haryono
Assistant Governor
