- We forecast Indonesia’s GDP growth for 2Q25 at 4.69%–4.81% YoY, moderating from 4.87% in the previous quarter, while we expect nominal GDP growth to slow to 6.49% YoY.
- Investment and government spending are expected to support growth, while consumption and net exports likely acted as drags.
- Actual 2Q figure may surprise on the upside particularly if (1) government spending delivers a stronger-than-expected boost, or (2) sectoral strength continues in transportation investment and strong plantation performance.
