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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
INDONESIA
Bank Indonesia (BI) meets today and is unanimously expected to leave rates at 5.75% where they have been since January (see MNI BI Preview - June 2023). The May meeting statement said that policy was focused on FX stabilisation and supporting sustainable growth, while also noting that activity “remains solid”. In the MNI Indonesia Macro Outlook, we look at some of those economic developments.
- Domestic demand grew 3.7% y/y in Q1 with private consumption stronger at 4.5%.
- While the S&P Global manufacturing PMI only just held above the breakeven-50 level in May, the consumer outlook is more positive. Consumer confidence rose 1.7% to 128.3 in May, the highest in a year. It has been trending higher since September and is pointing to a pickup in household expenditure.
- Retail sales have troughed and have been improving since the start of 2023 and sentiment suggests that this should continue over the coming months. But domestic vehicle sales have been softening.
Indonesia consumer outlook
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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