Indonesia’s economy advanced 1.55% qoq in Q3 2021, moderating sharply from a 3.31% expansion in Q2, and below market expectations of a 1.8% increase. Household consumption shrank (-0.18% vs 1.28% in Q2), amid strict COVID-19 containment measures from July to late August; while government spending growth eased sharply (8.96% vs 28.74%).
At the same time, external demand contributed positively, as exports rose faster ( 9.28% vs 6.68% in Q2) while imports fell (-1.24% vs 6.30%). Meantime, fixed investment grew 4.63% after falling 2.69% previously.