Indonesia this morning released 2nd quarter GDP figures, rising 6.37% versus consensus estimates of around 6.1%. The country’s growth is the fastest in the region bar China, the figure was boosted by better than expected domestic consumption. The country’s central bank are due to announce rates on the 9th of August with most people anticipating the rate to remain at 5.75%, this morning’s report looks set to make that outcome even more likely.

Second quarter growth was mainly supported by investment, government spending and household consumption, whilst falling commodity prices lowered demand for exports.

 

Posted by Philip Ball | Sales and Trading