Official figures show Indonesia’s economy grew by 5.2% y/y in the second quarter of the year, slightly higher than the 5.0% growth rate recorded in Q1. In contrast, our own Activity Tracker suggests growth weakened last quarter and is now growing at a slower rate than the official figures suggest. We expect the economy to struggle in the second half of the year as high interest rates and weaker global demand drag on prospects.
This is an expanded version of our initial Rapid Response with additional charts and analysis.
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