BI Survey: Business Climate Strengthens in Q2 2022

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Vika Azkiya Dihni 15/07/2022 17:50 WIB

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According to a Bank Indonesia (BI) survey report, Indonesian business activity generally strengthened in the second quarter of 2022.

Weighted Net Balance (WNB) of Business Activities (Quarter I 2020-Quarter II 2022)

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Weighted Net Balance (WNB) of Business Activities (Quarter I 2020-Quarter II 2022)

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According to a Bank Indonesia (BI) survey report, business activity in Indonesia generally strengthened in the second quarter of 2022. This is reflected in the Weighted Net Balance (WNB) value of 14.13%, higher than 8.71% in the previous quarter.

BI noted that this strengthening was mainly driven by the manufacturing, trade, hotel and restaurant, and transportation and communication sectors.

Other sectors recorded positive but slowing growth, namely the agriculture, plantation, livestock, forestry, and fisheries sectors.

BI assessed that the increase in business activity in the second quarter of 2022 was in line with the easing of mobility restrictions in various regions, as well as the momentum of Ramadan and Idul Fitri, which boosted demand and the availability of production facilities.

For the third quarter of 2022, respondents expect business activity to remain strong with a WNB of 13.75%.

This development is predicted to be driven by the performance of the mining and quarrying, manufacturing, construction, and finance, real estate, and business services sectors.

Meanwhile, the sector predicted to experience a slowdown is the agriculture, plantation, livestock, forestry, and fisheries sector, especially the food crop sub-sector.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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