Household Consumption Low, Economy Contracts 5.32% in Q2 2020

Economics & Macro

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Yosepha Pusparisa 05/08/2020 12:49 WIB

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Household Consumption Low, Economy Contracts 5.32% in Q2 2020

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Economic Growth/GDP per Quarter (YoY)

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Indonesia's economic growth contracted by 5.32% in Q2 2020 compared to the same period in 2019. It also contracted by 4.19% compared to the previous quarter.

The decline in growth was due to a negative 5.51% growth in household consumption expenditure in Q2 2020 compared to the same period in 2019, while it was still at 2.83% in Q1 2020. Household consumption is the main contributor to Indonesia's Gross Domestic Product (GDP).

Only two household components did not contract in Q2 2020. The housing and household equipment component grew by 2.36%, while the health and education component followed with 2.02% growth.

Editor : Safrezi Fitra

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."