Jakarta, CNBC Indonesia- Minister of Finance Sri Mulyani Indrawati revealed that Indonesian household consumption conditions did not match expectations and caused domestic economic growth in Q3-2023 to slow to 4.94% (yoy).

INDEF Senior Economist, Didin S. Damanhuri, said that the decline in purchasing power was reflected in the fall in demand in the manufacturing and basic materials sectors. Apart from that, the external situation caused by war and high interest rates has caused food prices to soar, which also suppresses consumption.

Meanwhile, Economist CNBC Indonesia Research, Maesaroh, mentioned the lack of holidays as the cause of restrained public spending in Q3-2020. This is very different from Q2-2023 which has many holidays and is the peak of people’s “snacking”.

What are the reviews regarding Indonesian people’s consumption like? For complete details, see the dialogue between Shafinaz Nachiar and CNBC Indonesia Research Economist, Maesaroh with INDEF Senior Economist, Didin S. Damanhuri in Profit, CNBCIndonesia (Tuesday, 07/11/2023)