REPUBLIKA.CO.ID, JAKARTA -- The Central Statistical Agency (BPS) noted that there was a decrease in household consumption in the third quarter of 2023 compared to the second quarter of 2023.
Head Caretaker of BPS Amalia Adininggar Widyasanti in the press conference on GDP of the third quarter 2023 in Jakarta, Monday (6/11/2023), said that in fact, the contribution of household consumption to the source of growth in the third quarter of 2023 was relatively smaller than the contribution in the second quarter of 2023 which amounted to 2.77 percent (yoy) and the third quarter of 2022 which amounted to 2.81 percent (yoy).
“Because household consumption has peaked in the second quarter of 2023,” Amalia said.
However, household consumption is still the main support for Indonesia's economic growth in the third quarter of 2023 with a growth contribution of 2.63 percent year on year (yoy). “Household consumption continues to grow as inflation is controlled,” she said.
Amalia explained that the highest growth in household consumption was contributed by the Transport and Communications sector, which was reflected by an increase in sales of motorcycles and passengers of rail, sea and air freight, as well as restaurants and hotels.
“(The hotel) is reflected by the increase in the Hotel's Room Occupancy Rate (TPK),” Amalia said.
In addition to household consumption, the component that supported economic growth in the third quarter of 2023, namely the Gross Fixed Capital Formation (PMTB) component with a growth source of 1.81 percent (yoy), followed by the component of Non-Profit Institutions serving Households (LNPRT) at 0.07 percent (yoy).
On the growth side, household consumption grew by 5.06 percent (yoy), the PMTB component grew 5.77 percent (yoy), and the LNPRT component grew 6.21 percent (yoy).
“The PMTB is driven by the growth of capital goods, buildings, vehicles, CBR, as well as intellectual property products, while the LNPRT is driven by increased activity of political parties,” Amalia said.
Nevertheless, in the third quarter of 2023, there were three components that contracted, namely imports, exports and government consumption, which sequentially contracted by minus 6.18 percent (yoy), minus 4.26 percent (yoy) and minus 3.76 percent (yoy) respectively.
