This is reflected in the value of the Weighted Net Balance (WNB) of -35.75 percent in the second quarter of 2020, contracting deeper compared to -5.56 percent in the first quarter of 2020.
” Decrease deepest in the manufacturing sector, the trade sector, hotels and restaurants, and the services sector. Mainly due to decreased demand and supply disruptions due to Covid-19, “Onny said in a press release on Monday (07/13/2020).
In line with the decline world activities business, used production capacity and labor use in the second quarter of 2020 were lower than the previous quarter.
“The condition of liquidity and profitability of the business world also showed a decline in the second quarter of 2020, with access to bank credit being more difficult,” said Onny.
But in the third quarter of 2020, respondents predicted business activities would increase. The increase was supported by improvements in all sectors, with WNB of 0.52 percent.
Based on the economic sector, the increase in business activities is estimated to be mainly in the Mining and Excavation sector and the Services sector.
The increase in the Mining and Quarrying sector is in line with the favorable weather and expected demand to increase.
“Meanwhile, the increase in the services sector, especially in the government administration sub-sector was driven by various central and regional government programs in the context of controlling Covid-19,” concluded Onny.