Consumption in Indonesia
Indonesia - Consumption
Economy continues to motor ahead in the fourth quarter
The economy expanded 5.2% in the fourth quarter according to recent data released by Statistics Indonesia, matching Q3’s reading and FocusEconomics panelists’ expectations.
Domestic demand powered the expansion, with private consumption increasing 5.1% (Q3: +5.0% year-on-year), likely supported by mild inflation, elevated consumer confidence and a healthy labor market. Fixed investment grew a robust 6.0% (Q3: +7.0% yoy), while government consumption expanded 4.6% (Q3: +6.3% yoy).
The external sector strengthened in the fourth quarter. Although growth in exports of goods and services slipped from 8.1% in Q3 to 4.3% in Q4, against a backdrop of rising global protectionism and more sluggish momentum in China, import growth fell faster—from 14.0% in Q3 to 7.1% in Q4. This was likely influenced in part by government efforts to stem imports, as well as by lower global oil prices. As a result, the external sector subtracted 0.6 percentage points from growth, compared to the 1.5 percentage-point subtraction in the third quarter.
Looking ahead, private consumption should continue to drive the economy, aided by a lower unemployment rate. Moreover, government consumption could see a boost ahead of elections scheduled for April, and fixed investment should stay healthy, despite potential delays to public investment projects as the government looks to trim the current account deficit. However, rising global trade tensions and slower global growth will likely drag on the external sector.
FocusEconomics Consensus Forecast panelists see GDP expanding 5.1% in 2019 and 5.1% again in 2020.
Indonesia - Consumption Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Consumption (annual variation in %) | 5.4 | 5.1 | 5.0 | 5.0 | 4.9 |
Indonesia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 7.97 | -0.05 % | Feb 14 |
| Exchange Rate | 14,090 | 0.05 % | Feb 14 |
| Stock Market | 6,420 | -0.32 % | Feb 14 |
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Economic News
Indonesia: Fourth consecutive monthly trade deficit recorded in January as exports decline
February 15, 2019
According to Statistics Indonesia, the country recorded a trade deficit of USD 1.2 billion in January, once more coming in wider than market expectations.
Indonesia: Growth in retail sales accelerates in December
February 11, 2019
In December, retail sales grew 7.7% over the same month in the prior year, up from November’s 3.4% expansion and matching the Bank’s initial estimate.
Indonesia: Economy continues to motor ahead in the fourth quarter
February 6, 2019
The economy expanded 5.2% in the fourth quarter according to recent data released by Statistics Indonesia, matching Q3’s reading and FocusEconomics panelists’ expectations.
Indonesia: Manufacturing PMI slips in January
February 1, 2019
Conditions in Indonesia’s manufacturing sector largely stagnated in January according to the Purchasing Managers’ Index (PMI) released by IHS Markit and Nikkei, with the PMI decreasing from 51.2 in December to 49.9 in January.
Indonesia: Inflation falls in January
February 1, 2019
Consumer prices increased 0.32% in January from the previous month, down from December’s 0.62% increase.
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