U.S. PMI Mixed Signals: Weak Demand Drives Manufacturing Decline, Backlog Orders Bolster Services Strength
U.S. S&P Global Manufacturing PMI edged down slightly to 52.2 in November 2025 from 52.5 in October 2025, exceeding the market consensus of 51.9 and signaling continued expansion in the...
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Indonesia’s Annual Inflation Slower to 2.72% in November 2025, Led by Volatile Food Components
Indonesia’s Consumer Price Index (CPI) increased annually to 2.72% YoY in November 2025, down from 2.86% YoY in October 2025. However, the November 2025 annual inflation rate remained higher compared...
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Indonesia’s Trade Surplus Shrinks as Exports Soften and Oil Deficit Widens
Indonesia’s Trade Balance (NPI) surplus recorded a fairly deep decline to US$2.39 billion in October 2025 from US$4.34 billion in September 2025 (Figure 1). This decrease was caused by a...
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Indonesia’s Money Supply (M2) Growth Decelerates amid Weakening Bank Lending Activity
Broad money (M2) grew at a slower pace of 7.7% YoY to Rp9,783.1 trillion in October 2025, compared to 8.0% YoY in September 2025. By component, M2 developments were driven...
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U.S. Labor Market Moderated in September 2025
The U.S. labor market data released after the end of the government shutdown showed signs of improvement, though not across all indicators. In the latest September 2025 data, Nonfarm Payrolls...
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Indonesia’s Balance of Payment Deficit Showed Improvement, Driven by a Surplus Current Account in 3Q25
Indonesia’s Balance of Payments deficit recovered by 5.33% quarter-on-quarter to USD 6.4 billion in the third quarter of 2025, supported by a surplus in the current account position of USD...
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Bank Indonesia Holds Rate at 4.75% to Stabilize Inflation and Rupiah
The Board of Governors Meeting (RDG) of Bank Indonesia (BI) maintained its policy rate at 4.75%, with the Deposit Facility Rate at 3.75% and the Lending Facility Rate at 5.50%...
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Improving Consumer Confidence Drives Retail Sales Growth in October 2025
The Consumer Confidence Index (CCI) rose by 6.3 points to 121.2 in October 2025, up from 115.0 in September 2025. This increase was driven by a 6.1-point rise in the...
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Indonesia’s FX Reserves Increased to US$149.9 Billion in October despite Rupiah Weakness
Indonesia’s foreign exchange reserves increased to US$149.9 billion in October 2025 from US$148.7 billion in September 2025. The increase was driven by the government’s issuance of global bonds, as well...
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