Indonesia Macro Update - GDP Growth 05 Nov 2025
KBVS MACRO UPDATE
Wednesday, 5 November 2025
Steady 3Q25 Growth, Indonesian Markets Remain Muted
As expected, Indonesia’s economic growth in 3Q25 recorded 1.43% QoQ) and 5.04% YoY. Regionally, the Java provinces were the primary driver of national growth. On the expenditure side, household consumption remained the primary growth driver but grew only 4.89% YoY. From the production perspective, sectoral dynamics were mixed.
With limited growth in purchasing power, the risk of rising commodity prices and CPI inflation will remain critical for economic momentum.
Overall, the 3Q25 economic data is likely to have a muted impact on equity markets and provides limited impetus for further declines in fixed-income yields.
Regards,
Fikri C Permana – KBVS Research Team