Indonesia unveils signs of pickup in business

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Indonesia unveils signs of pickup in business
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JAKARTA, July 4 (Xinhua): The Indonesian central bank, Bank Indonesia, on Friday (July 3) unveiled some early signals of a pickup in business activities, playing down the wariness of possible recession this year.

The lender conceded that the novel coronavirus pandemic would further stretch deep the economy with a peak of the downturn in the second quarter, still the country's purchasing managers index edged up 39.1 in June from 28.6 in May and 27.5 in April, Bank Indonesia's Deputy Governor Dody Budi Waluyo said on Friday.

Indonesia has been heading to a new normal scenario since June when mall shopping centers and tourist destinations resumed operations along with relaxing air travel restrictions. Adding to the factors, Waluyo said, the resumption of shipments of products to China also played roles.

 

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