Indonesia Economic Quarterly, September 2018 : Urbanization for All
Real GDP grew 5.3 percent in the second quarter of 2018 from the previous year, as domestic demand strengthened. Private and government consumption accelerated thanks to higher subsidy and personnelspending, a pick-up in credit growth, higher agric...
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| Language: | English |
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/498361537371495086/Indonesia-Economic-Quarterly-Urbanization-for-All http://hdl.handle.net/10986/30448 |
| Summary: | Real GDP grew 5.3 percent in the second
quarter of 2018 from the previous year, as domestic demand
strengthened. Private and government consumption accelerated
thanks to higher subsidy and personnelspending, a pick-up in
credit growth, higher agricultural incomes, and stable
inflation. Strong job markets also helped: the employment
rate reached a two-decade high of 65.7 percent in February,
with the unemployment rate falling to 5.1 percent. Growth of
machinery and equipment investment remained robust, but
overall gross fixed capital formation (GFCF) slowed because
investments in structures and buildings (three-quarters of
GFCF) moderated, partly due to fewer working days. Despite
escalating protectionism, both exports and imports grew over
the quarter. Because import volumes grew nearly twice as
fast as exports, net exports contracted, weighing on overall
economic growth. |
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