Indonesia Economic Outlook
August 24, 2021The economy rebounded in the second quarter, supported by expansionary fiscal and monetary policies. A broad-based improvement in domestic demand was behind Q2’s reading, as household and government spending as well as fixed investment all improved compared to the previous quarter. On the downside, the external sector dragged on the economy. Meanwhile, economic conditions have seemingly worsened considerably so far in the third quarter. The country saw Covid-19 infections and deaths surging from mid-June until early August, which prompted the government to temporarily tighten containment measures amid a strained healthcare system and vaccine shortages. The situation was reflected in plunging consumer confidence and a falling manufacturing PMI in July, which spells trouble for activity in Q3.
Indonesia Economic GrowthThis year, the economy is set to rebound amid reviving domestic and foreign demand, expansionary fiscal and monetary policy stances, sustained infrastructure spending and the gradual lifting of restrictions. That said, the recent worsening of the health crisis will restrain the pace of recovery. FocusEconomics Consensus Forecast panelists expect GDP to expand 3.8% in 2021, which is down 0.5 percentage points from last month’s forecast. In 2022, GDP is seen growing 5.1%.
Indonesia Economy Data
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|Bond Yield||7.10||-0.05 %||Dec 31|
|Exchange Rate||13,883||0.05 %||Jan 01|
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Indonesia Economic News
September 16, 2021
Merchandise exports shot up 64.1% over the same month last year in August, following July’s 29.4% jump.
September 10, 2021
Retail sales decreased 2.9% year-on-year in July (June: +2.5% yoy).
September 3, 2021
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) came in at 43.7 in August, up from July's 40.1, which had marked the worst performance since June 2020.
September 1, 2021
Consumer prices rose a seasonally-adjusted 0.03% over the previous month in August, a smaller increase than the 0.08% rise logged in July.
August 23, 2021
Merchandise exports jumped 29.3% in annual terms in July, on the heels of June’s 54.4% upturn.