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Bank Indonesia estimates that the performance of the Manufacturing Industry sector in the first quarter of 2023 is expected to increase by 53.3 percent or higher than 50.06 percent in the previous quarter. Based on the results of Bank Indonesia's Prompt Manufacturing Index survey or PMI-BI, all components recorded an increase with the highest increases in production volume, total order volume, and finished goods inventory volume. "All Manufacturing Industry sub-sectors are predicted to be in an expansion phase with the highest indexes in the Textiles, Leather Goods and Footwear sub-sectors," said Executive Director of the Communications Department Erwin Haryono. quoted from Bank Indonesia's official website, Sunday, January 15, 2023.

Other sub-sectors, such as the Wood Goods and Other Forest Products sub-sector, Fertilizers, Chemicals and Rubber Products, as well as Iron and Steel Base Metals, said Erwin, also recorded an increase.

Bank Indonesia also noted that the performance of the Processing Industry in the fourth quarter of 2022 remained strong and was still in the expansion phase. This is reflected in the PMI-BI in the fourth quarter of 2022 which was recorded at 50.06 or is in an expansion phase with an index above 50 percent. Even though, said Erwin, this achievement was lower than 53.71 percent in the third quarter of 2022.

Erwin said, the expansion occurred in the majority of the components that make up the PMI-BI, especially the total order volume, finished goods inventory volume, and production volume. "Based on the sub-sector, expansion occurred in the sub-sectors of cement and non-metallic mineral goods, textiles, leather goods and footwear, transportation equipment, machinery and equipment, paper and printed goods, as well as food, beverages and tobacco," he said.

According to Erwin, the development of the PMI-BI is in line with developments in the Manufacturing Industry sector as shown by the results of the Bank Indonesia Business Activity Survey (SKDU), which is still growing, although slowing down, with a Weighted Net Balance (WNB) of 1.04 percent.a