“In addition, consumer confidence continued its revival in the latest April 2023 readings while May 2023’s inflation of 4.0% was lower m-o-m versus 4.3% in April 2023,” it adds.
With the Indonesian economy going strong year-to-date (ytd), UOB Kay Hian analyst Adrian Loh and the Singapore research team have identified the sectors and Singapore Exchange (SGX:S68
) (SGX)-listed counters that could benefit from the country’s economic strength.
“After the peak of Covid-19, Indonesia has recovered strongly with the country recording above-consensus 1Q2023 GDP growth of 5.03% as well as a very strong 16% y-o-y growth in total investment for the quarter,” says the team in its June 8 report.
