In the second quarter, GDP grew 6.4% over the same quarter last year, which was up from both the 6.3% increase observed in the first quarter as well as market expectations of a more moderate 6.1% expansion. The result mainly reflected robust domestic demand, which compensated for weaker export growth. Private consumption maintained its resilience and added 5.0% year-on-year, which was virtually unchanged from the 4.9% rise observed in the first quarter. In addition, fixed investment accelerated from a 10.0% rise in the first quarter to a 12.3% expansion in the second. Finally, government consumption rose 7.0% (Q1: +5.9% year-on-year). On the external side, exports slowed notably to a mere 1.9% expansion in the second quarter, down from the 7.9% rise observed in the first quarter. Imports, on the other hand, added 10.9% (Q1: +8.0% yoy). As a result, the external sector's net contribution to overall growth deteriorated from minus 0.9 percentage points in the first quarter to minus 4.6 percentage points in the second.
Economic growth remains buoyant in Q2
August 6, 2012
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Indonesia GDP Chart
Note: Year-on-year changes of GDP in %.
Source: Statistics Indonesia (BPS) FocusEconomics Consensus Forecast.
Indonesia Economic News
October 17, 2016
Indonesia’s trade surplus rose in September to a 14-month high as imports deteriorated.
October 12, 2016
Retail sales in August expanded 14.4% over the same month last year, according to Bank Indonesia’s Retail Sales Survey (RSS).
October 3, 2016
In September, consumer prices increased 0.22% from the previous month, which contrasted the 0.02% fall recorded in August.
October 3, 2016
The manufacturing Purchasing Managers’ Index (PMI) rose from 50.4 in August to 50.9 in September, according to a release provided by Nikkei and IHS Markit.
September 22, 2016
At its 21–22 September monetary policy meeting, Bank Indonesia decided to cut the BI seven-day Reverse Repo rate (BI seven-day RR rate) from 5.25% to 5.00%.