Macro and Economies Views

We provide a brief overview of domestic and global economic conditions 

 

Indonesia's GDP growth recorded at 5.01% y-y in 4Q22, (FY22: 5.31% y-y).

The slowdown in economic growth was driven by consumption by 4.48% (prev: 5.39% y-y), investment growth by 3.33% y-y (previously: 4.98% y-y). Meanwhile, exports increased by 14.93% y-y (previously: 19.41% y-y) while import growth slowed to 6.25% y-y (previously:25.37% y-y). On the other hand, government consumption fell further by -4.77% y-y (previously: -2.55% y-y).


Source : Statistics Indonesia, Phillip A.M

 

We see that with the decrease in commodity prices going forward, Indonesia's economic growth in 1Q23 will still grow positively but experience a slowdown, then the inflation rate will also decline in 1Q23. This will certainly be a concern of Bank Indonesia (BI) in determining the direction of interest rates.

 

See here for full overview 

 

p.s (Disclaimer on)
This article is presented by Investment Team of Phillip Asset Management

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