The performance of the business world is predicted to increase in the first quarter of 2024, driven by this sector

Posted by – The results of the Business World Activity Survey (SKDU) by Bank Indonesia (BI) show that business performance will increase in the first quarter of 2024.

This is reflected in the weighted net balance (WNB) of business activities which was recorded at 15.38%, higher than the WNB 13.17% in the fourth quarter of 2023.

“Business activity in all business fields is estimated to grow positively, mainly driven by the processing industry business field, as well as mining business fields and the like,” BI wrote in its report, quoted Friday (19/1/2024).

The increase in business performance in the first quarter of 2024 is a step for business actors to meet domestic demand, especially ahead of the month of Ramadan 2024.

Bank Permata Chief Economist Josua Pardede said the increase in business activity in the first quarter of 2024 is estimated to come primarily from business activities related to food and beverages, in line with the month of Ramadan which started in mid-March.

“Sectors that are expected to increase include those related to food, such as the food manufacturing industry and restaurant services,” he said to Bisnis, Thursday (18/1/2024).

Apart from that, the trade sector is also expected to tend to increase, considering that there is an increase in economic activity during the Ramadan period.

In the first quarter of 2024, respondents envision the performance of wholesale and retail trade, car and motorbike repairs increasing with WNB of 1.65%, higher than WBT of 1.48% in the previous period.

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