The performance of the non-oil and gas processing industry sector in Indonesia has remained stable. According to Indonesia.go.id, in a report by S&P Global in early March 2023, they released the Purchasing Managers' Index (PMI) for Indonesia's Manufacturing sector. The report shows that Indonesia's Manufacturing PMI remained at a level of 51.2, indicating expansion in February.
The performance of Indonesia's Manufacturing PMI in the second month of this year also shows that Indonesia's manufacturing sector remains strong and able to sustain expansion levels for 18 consecutive months with Indonesia outscoring Myanmar, Malaysia, Taiwan, Japan, the UK, the United States, and Eurozone (48.5). In response to the report, Minister of Industry Agus Gumiwang Kartasasmita stated that this expansion achievement extends the period of improvement in the condition of Indonesia's manufacturing industry sector for the past 18 months, despite global economic pressures. This can be seen from the results of the Industry Confidence Index (IKI) issued by the Ministry of Industry for the February 2023 period, which reached 52.32, an increase of 0.78 points from the previous month.
In addition, the percentage of business pessimism decreased, from 13.60% in January 2023 to 10.81% in February 2023. Meanwhile, 24.90% of businesses stated that their condition would remain stable for the next six months. Agus emphasized that his team is committed to continuing to focus on promoting natural resource processing activities within the country. This downstreaming of the industry has proven to have a wide positive impact on the national economy, such as increasing investment, job creation, and exports.
