[12:03, 11/6/2018] +62 815-7319-0777: FR CGS-CIMB (YU) : Economic Update | PDF
3Q18 GDP growth: In line with expectation
Author(s): Yee Ping LIM +60 (3) 2261 9083, Michelle CHIA

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■ 3Q18 real GDP growth of 5.2% yoy was supported by investment activity and public consumption whereas net exports remained a drag on GDP growth.
■ We revise our 2018 GDP growth forecast lower by 0.1% pt to 5.2% on account of softer global growth, a weaker rupiah and tighter monetary policy.
[12:03, 11/6/2018] +62 815-7319-0777: FR CGS-CIMB (YU) : Strategy | PDF
3Q18 results review: growth rebounded
Author(s): Erwan TEGUH +62 (21) 30061720, Peter P. SUTEDJA, Namira LAHUDDIN


■ 3Q18 results season saw more positive earnings surprises than negative, albeit on the back of more conservative forecasts since Jun/Jul this year.
■ Positively, earnings growth picked up in 3Q18 following two quarters of tepid numbers, boosted by margin expansion for banks and commodities.
■ Foreign selling remained relentless in equities but rebounded in bonds. Current market valuations have priced in significant earnings risk.
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