Indonesia's already subpar GDP growth dips to new low in Q2
It fell to 4.67% in Q2.
Indonesia's already subpar GDP figures fell to a new low in the second quarter.
The archipelago's Q2 GDP print registered a 4.67% year-on-year growth, slower than the 4.7% growth booked in the first quarter.
According to OCBC, this marks another low for Indonesia’s growth data since the dip of the post-Lehman days.
Indonesia's growth is hampered by weak consumer sentiment, persistent oil price declines, and the depreciating rupiah.
"At 4.67%, Indonesia’s Q2 GDP data shows that things have not picked up much at all, compared to the already-disappointing performance in Q1. It will now take a heroic surge in H2 for Indonesia to even register a 5.0% annual growth for this year. A feat that will have to depend on just how quickly the government can get their acts together," said OCBC.
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