Business confidence on mining down in Q2
Monday, August 6 2012 - 11:04 AM WIB
Business confidence on mining sector was down to new record low of 92.55 in the second quarter ended on June 30 compared to the previous period of 102.13, partly due to the government?s policy restricting export of unprocessed mining products, according to quarterly Business Tendency Index (BTI) published by the Central Bureau of Statistics (BPS).
BTI, published by the Central Bureau of Statistics and Bank of Indonesia, aims at measuring expectations of entrepreneurs about business conditions and economy in general.
Head of BPS Suryamin told press conference that the decline of business confidence was also contributed by the sluggish global demand on the commodities.
?The government policy to limit exports and the slowing of global demand decrease the business confidence index in the Q2,? he said, adding that the index was expected to rise to about 107.64 in the third quarter.
Historically, from 2000 to 2012, Indonesia Business Confidence averaged 107.4200 reaching an all time high of 122.5000 in June of 2000 and previous record low of 95.1200 in March of 2006.
The survey covers the sample of around 1,800 managers from large and medium companies from different sectors of the economy.
Editing by Adianto P. Simamora