Weaker than expected improvement in Indonesia’s 1Q19 current account deficit

15 May, 2019
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS 1Q19 balance of payments The 1Q19 current account deficit (CAD) improved to US$7.0bn/2.6% of GDP, the smallest since 2Q18, though it fell short of our expectation. We raise our CAD forecast to US$29.6bn/2.7%

Indonesia’s 1Q19 GDP growth of 5.1% slightly disappoints

10 May, 2019
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS 1Q19 GDP growth 1Q19 real GDP growth came in slightly below expectation at 5.1% yoy on slowing investment activity and the drag from inventory contribution. We raise our 2019 GDP growth forecast by

Indonesia: 1Q19 direct investment realisation

6 May, 2019
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS 1Q19 direct investment realisation Total realised investments fell 2.8% yoy to US$13.4bn in 1Q19 as the gains in the tertiary sector were insufficient to offset declines in other sectors. We expect investments to

Indonesia: February 2019 trade

18 March, 2019
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS February 2019 trade The trade balance swung into a surplus of US$330m in February amid a steeper contraction in imports relative to exports. February’s rebound lowered cumulative trade deficit to US$734m in 2M19

Indonesia: February 2019 Bank Indonesia meeting

28 February, 2019
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS February 2019 Bank Indonesia meeting Bank Indonesia (BI) kept its 7-Day Reverse Repo Rate (7DRRR) steady at 6.00%, as widely expected. Reducing the current account deficit (CAD) to 2.5% of GDP is a

Indonesia: 3Q18 GDP growth – In line with expectation

14 November, 2018
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS 3Q18 GDP growth: In line with expectation 3Q18 real GDP growth of 5.2% yoy was supported by investment activity and public consumption whereas net exports remained a drag on GDP growth. We revise

Indonesia: 3Q18 direct investments

7 November, 2018
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS 3Q18 direct investments Direct investments (DI) fell 5.7% yoy to US$12.5bn in 3Q18 due to a deeper contraction in foreign direct investments (FDI) of 20.2% yoy to US$6.6bn. DI in manufacturing sector was

Indonesia: September 2018 CPI inflation

18 October, 2018
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS September 2018 trade Steeper moderation in import growth led to the turnaround in trade balance to a surplus of US$227m in September, but 3Q18 trade deficit rose to a 5-year high. Weakening Rp/US$

Indonesia: September 2018 CPI inflation

3 October, 2018
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS September 2018 CPI inflation Headline and core inflation decelerated in September. The headline inflation of 2.9% yoy was at its weakest pace since August 2016. The pass-through effect of a weaker rupiah and

Indonesia: September 2018 BI meeting

1 October, 2018
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS September 2018 BI meeting Bank Indonesia (BI) lifted its policy rate by 25bp after a similar move by the US Federal Reserve (US Fed) overnight. BI to issue guidelines for domestic non-deliverable forward