ANZ analysts note that Indonesia’s GDP growth eased slightly further to 5.02% in Q3 from 5.05% in Q2, the softest reading in two years.
Key Quotes
“While net export growth picked up, this was more than offset by a pullback in domestic demand.”
“The soft Q3 outturn supports our view that Bank Indonesia’s (BI) easing cycle is not over yet. Even then, a rebound in global commodity prices or growth will be necessary for Indonesia’s growth to break out of its current range.”
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