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Ministry optimistic about industry growth in Q1 2019

Jakarta (ANTARA) –
Indonesia’s industrial sector is expected to grow more aggressively in the second quarter of 2019 compared to the previous quarter, particularly due to increased demand during the fasting month and the upcoming Eid al-Fitr.

“We are sure that the growth will be higher than the first quarter, which reached 4.5 percent. It is expected to reach 5 percent,” Secretary General of the Industry Ministry, Haris Munandar, said here on Monday.

Munandar expressed his optimism that the business climate in the country would return to normal after the General Election Commission announces the election results, along with the coming of Eid al-Fitr.

Some industries, such as food and beverages and the textile industry, have reported a sharp increase since the start of the second quarter.

“With the incoming Eid, people spend their money. The textile industry, and food and beverage, will also enjoy a sharp increase. There is also more money in circulation, as employers have to pay Eid bonuses to their employees,” he said.

In the first quarter of 2019, textile and garment industry growth jumped to 18.98 percent, compared to 7.46 percent growth in the same period of 2018, and the industry’s growth during 2018 was recorded at 8.73 percent.

Also, data from the Central Bureau of Statistics (BPS) showed that production of large and medium scale manufacturing industries in the first quarter of 2019 reached 4.45 percent year-on-year.

This growth was boosted by a sharp increase in production in the garment sector, reaching 29.19 percent with increased demand, especially in the export market.

(INE)

Article source: https://en.antaranews.com/news/125811/ministry-optimistic-about-industry-growth-in-q1-2019