Jakarta Consumer Purchasing Power Declines Again in Q3 2017

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09/11/2017 10:54 WIB

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Jakarta's Household Consumption and Economic Growth (2016-2017)

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Jakarta's Household Consumption and Economic Growth (2016-2017)

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Data released by the Central Statistics Agency (BPS) shows that Jakarta's economy grew by 6.29 percent in the third quarter of 2017 compared to the same quarter of the previous year (YoY). This is an increase from the previous quarter's growth of 5.96 percent (YoY). The Gross Regional Domestic Product (GRDP) of Jakarta in the third quarter of 2017, based on 2010 constant prices, increased to Rp 415 trillion from Rp 390.43 trillion.

Despite this economic growth, purchasing power in Jakarta shows a slowdown. This is reflected in the growth rate of GRDP based on household consumption expenditure. In the third quarter of 2017, this fell to 5.14 percent (YoY) compared to 5.96 percent (YoY) in the previous quarter. This growth in Jakarta's household consumption is the lowest since the fourth quarter of 2016.

"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."