Indonesia Economic Outlook
July 16, 2019
In the second quarter of the year, growth should have been broadly unchanged from that of the first quarter. Domestic signs are generally encouraging: Retail sales grew rapidly in April and May, likely supported by buoyant consumer confidence, while the manufacturing PMI averaged higher than in Q1. However, goods exports plummeted in April and May, while tourist arrivals stagnated over the same period, potentially dampened by recent floods. That said, lower imports, amid government measures to contain the current account deficit, could have offset the damage to the external sector in the second quarter. Meanwhile, in other news, the government has recently announced a raft of tax incentives to support the property sector and firms who invest in employee training and research and development, in a bid to boost the economy.Indonesia Economic Growth
Growth should be robust this year, with private consumption buttressed by a strong labor market and optimistic consumer sentiment. However, fixed investment will be held back by government measures to curb imports. Downside risks stem from global trade tensions and the rupiah’s vulnerability to global financial volatility. FocusEconomics panelists expect GDP growth of 5.1% in 2019, which is unchanged from last month’s forecast. For 2020, panelists see the economy expanding 5.2%.Indonesia Economy Data
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Indonesia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 7.23 | -0.05 % | Jul 11 |
| Exchange Rate | 14,065 | 0.05 % | Jul 11 |
| Stock Market | 6,417 | -0.32 % | Jul 11 |
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Indonesia Economic News
Indonesia: Bank Indonesia cuts rates in July to boost the economy
July 18, 2019
At its 17–18 July monetary policy meeting, Bank Indonesia (BI) lowered the seven-day reverse repo rate from 6.00% to 5.75%, as the majority of market analysts had expected.
Indonesia: Exports plummet in June, while imports recover
July 15, 2019
According to Statistics Indonesia, the country recorded a trade surplus of USD 0.2 billion in June, matching May’s figure.
Indonesia: Retail sales growth picks up in May
July 7, 2019
In May, retail sales expanded 7.7% in annual terms, up from April’s 6.7% rise but below the Bank’s initial estimate of 9.0%.
Indonesia: Inflation stays within the target range in June
July 1, 2019
Consumer prices increased 0.55% in June over the previous month, down from May’s 0.68% increase.
Indonesia: Manufacturing PMI falls in June
July 1, 2019
Conditions in Indonesia’s manufacturing sector improved at a slower pace in June, according to the Purchasing Managers’ Index (PMI) released by IHS Markit and Nikkei, with the PMI decreasing from 51.6 in May to 50.6 in June.
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