Indonesia’s Industrial Confidence Strengthens in August
(MENAFN) Indonesia’s industrial confidence strengthened in August, fueled by growth across the majority of its processing sectors, according to a senior government official on Thursday.
The country’s Ministry of Industry reported that the Industrial Confidence Index (IKI) rose to 53.55 in August, marking a 1.15-point increase compared to the same month last year. On a monthly basis, the index also showed improvement, edging up 0.66 points from 52.89 in July.
“Indonesia's industrial confidence index in August remains expansive, mainly driven by 21 processing sub-sectors. Their expansion strongly supports overall growth momentum,” said Febri Hendri Antoni Arif, spokesperson for the Ministry of Industry, during a press briefing.
Out of the 23 processing sub-sectors surveyed, 21 showed expansion, with transportation equipment and printing and reproduction of recorded media leading in confidence levels, Arif noted.
However, not all industries experienced gains. The metal goods industry (excluding machinery and equipment) and the machinery and equipment repair and installation sector reported contraction during the month.
Arif noted that the outlook for the next six months appears positive, with business players maintaining a relatively strong level of confidence.
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