In the first quarter, GDP grew 6.3% over the same quarter last year, which was below the 6.5% increase observed in the fourth quarter of 2011 but came in line with market expectations. The result mainly reflected a slowdown in fixed investment growth. Private consumption maintained its resilience and added 4.9% year-on-year, which mirrored the figure observed in the fourth quarter of last year. Government consumption accelerated from a 2.8% rise recorded in the fourth quarter to a 5.9% expansion in the first. Fixed investment, however, slowed from an 11.5% expansion in the fourth to a 9.9% rise in the first. On the external side, exports grew 7.8% in the first quarter, which was virtually unchanged from the 7.9% pace recorded in the fourth quarter, while imports added 8.2% (Q4: +10.1% yoy). As imports lost steam, the external sector's net contribution to overall growth rose from plus 0.1 percentage points in the fourth quarter to plus 0.7 percentage points in the first. The Central Bank expects the economy to grow between 6.3% and 6.7% this year and between 6.4% and 6.8% in 2013.
Indonesian economy slows in first quarter
May 7, 2012
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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%.