MACROECONOMIC ANALYSIS SERIES: Indonesia Economic Outlook Q3-2019

Indonesia’s economic growth in Q1 2019 is recorded at 5.07% (y.o.y), lower than 5.17% (y.o.y) as  in the previous quarter. Despite of the seasonal pattern, the global stresses caused by economic downturn and wait-and-see mode of investors ahead of the 2019 general election might have impeded overall household consumption and investment. The manufacturing sector, which remains the most contributing sector, only grew at 3.95% (y.o.y) in Q1 2019. Amidst global uncertainty, the general election has ended, and the new administration would step into the office. The new government should take the structural reforms agenda of utmost importance and addressed through bold and significant steps to revive the  competitiveness level of Indonesia’s manufacturing industry.

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