Business activity in Indonesia held up in the third quarter of 2026, with Bank Indonesia saying its quarterly survey points to a continued positive trend as firms kept capacity utilization high and financing conditions stayed supportive.
Indonesia Business Activity Stays Resilient in Q3 2026

The central bank said its Business Activity Survey produced a weighted net balance of 11.46% in the July-September period, underscoring that corporate conditions remained resilient despite a softer credit backdrop in some parts of the economy. It added that production capacity utilization was steady at 73.75%, a sign that factories and service providers are still running at a healthy clip.

BI said improvement was seen across several sectors, including manufacturing, public administration and defense, utilities, construction and real estate. Capacity use also rose in manufacturing, electricity and gas, and water, waste and recycling services, suggesting demand is broadening beyond a single industry.
For investors, the report reinforces the view that Indonesia’s domestic economy remains one of the more stable growth stories in emerging Asia. Stronger business conditions tend to support corporate earnings, bank loan demand and sectoral activity in consumer, industrial and property names, while also reducing pressure on policymakers to provide additional stimulus.

BI also said business finances improved overall, helped by better liquidity and profitability, and that access to credit remained easy. That combination matters because it supports investment plans, inventory restocking and production expansion at a time when local companies are still balancing growth ambitions against cost pressures.
The latest survey points to an economy that is still expanding without obvious stress, even as some regions report weaker borrowing appetite and cautious production plans. The next focus for markets will be whether fourth-quarter data confirm the same momentum and whether easier financing continues to feed through into investment and output.
| Entity | Gains | Losses |
|---|---|---|
| Indonesian businesses | ▲better liquidity, easier credit | ▼little downside if demand slows |
| Banks | ▲loan demand support | ▼margin pressure if credit stays soft |
| Investors in cyclical sectors | ▲stronger earnings outlook | ▼cash-rich defensives |
| Policymakers | ▲evidence of resilience | ▼urgency for fresh stimulus |




