BI Survey: Business Activity in Q1 2026 Slows Down

Bank Indonesia’s (BI) survey shows that business activity in the first quarter of 2026 slowed compared to the previous quarter. This is reflected in the Weighted Net Balance (WNB) which fell to 10.11% from 10.61% in the fourth quarter of 2025.

BI’s Director of the Communication Department, Anton Pinoto, stated that the performance of the majority of business fields (BF) was recorded as positive, sourced from Financial Services; Agriculture, Forestry, and Fisheries; Manufacturing Industry; as well as Wholesale and Retail Trade, and Repair of Motor Vehicles and Motorcycles.

This development aligns with the increase in public demand during various national religious holidays in the first quarter of 2026, such as Chinese New Year, Nyepi Holy Day, the Ramadan period and Eid al-Fitr 1447 H, as well as the start of the harvest season for agricultural commodities,” he said in a press release on Friday, 17 April 2026.

In detail, the WNB for the Financial Services BF was recorded at 1.94%; the Agriculture, Forestry, and Fisheries BF at 1.54%; the Manufacturing Industry BF at 1.46%. Then, the Wholesale and Retail Trade BF, and Repair of Motor Vehicles and Motorcycles was recorded at 1.24%. Meanwhile, the Mining and Quarrying BF contracted by 0.08%. The Construction BF also slowed to 0.12% from 0.75% in the previous quarter.

Meanwhile, the utilised production capacity in the first quarter of 2026 was recorded at 73.33%. This position increased compared to the fourth quarter of 2025 at 73.15%. The increase in production capacity was supported by the Agriculture, Forestry, and Fisheries BF as well as the Manufacturing Industry BF.

Based on the same survey, respondents predict that business activity in the second quarter of 2026 will increase with a WNB of 14.80%.

“The increase in business activity is expected to mainly come from the Agriculture, Forestry, and Fisheries BF in line with the continuation of the food commodity harvest season, the Mining and Quarrying BF supported by a decrease in rainfall which encourages mining activities, as well as the Construction BF along with the start of work on several projects,” said Anton.