Wednesday, May 8, 2013

The Car Insurance Info : Economist: growth slowing domestic consumption is stuck

Jakarta (The Car Insurance Info)-Bank Danamon Economist Dian Ayu said Yustina, Indonesia's economic growth in the quarter I 2013 of 6,02 percent on an annual basis (yoy), have been held up by the performance of domestic consumption and investment slowed.

"Growth is stifled by domestic demand became the main driving force of the economy and slowing the pace of investment," he said in the affidavits here on Tuesday.

Ayu said the slowing of consumption, especially in the private sector, are also affected by the high rate of inflation in early 2013.

The condition, he continued, can take up to two next quarter, when rising fuel prices subsidized so enacted.

"However, pressure on consumption will be reduced when shopping is increasing ahead of the elections, and the more helpful by increased absorption of labor, due to the improving unemployment rate," he said.

Ayu added performance sector investment also slowed in quarter I, seen from perlemahan construction services and a decrease in imports of capital goods, so join the withholding rate of economic growth.

"Surprisingly, government spending increased slightly above expectations due to the elections in the region, though still relatively low because of the obstacles the document administration of disbursements," he said.

Overall, the condition of Indonesia's economic growth is still influenced by the increase in the performance of the service sector, particularly transport and communications and finance, and the export sector that still affected the global crisis.

"There are no significant changes from the performance of the industrial sector, because economic growth is still the dominant sector of tertiary or donated by the service industry," he said.

With these conditions, it Was estimated that at the end of the year, economic growth was at number 6,17% (yoy). Inflation rate will also be increased, due to the rise in fuel prices in June, up by 7 percent.

"Whereas, the commodity prices that affect exports to ' rebound ' next year, so the projections for 2014, economic growth ranging from 6.49 percent (yoy)," he said.  (S034/Z002)

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Title Post: The Car Insurance Info : Economist: growth slowing domestic consumption is stuck
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Author: Mohammad Zulfi Satriawan

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