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Indonesia’s Q3 growth cools as protests, policy shifts test investor confidence

Consumer spending shows strain amid rising costs

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Elisa Valenta

Elisa Valenta

Published Wed, Nov 5, 2025 · 12:29 PM — Updated Wed, Nov 5, 2025 · 06:56 PM
    • Demand in Indonesia’s 280-million-strong market remains subdued despite rate cuts by the central bank totalling 125 basis points since September 2024.
    • Demand in Indonesia’s 280-million-strong market remains subdued despite rate cuts by the central bank totalling 125 basis points since September 2024. PHOTO: REUTERS

    [JAKARTA] Indonesia’s economy slowed slightly in the third quarter of 2025, reflecting softer consumer and investor sentiment following nationwide protests in late August. But analysts said that the country’s growth remains resilient compared with that of its regional peers.

    Official data released on Wednesday (Nov 5) showed that gross domestic product grew 5.04 per cent year on year in Q3, slightly down from 5.12 per cent in the previous quarter.

    The figure was in line with the expectations of economists polled by Bloomberg, highlighting a mild but notable cooling in South-east Asia’s largest economy.

    Indonesia

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