Indonesia’s GDP Grew 5.47% YoY in 3Q26, Above Expectations

Indonesia’s GDP Grew 5.47% YoY in 3Q26, Above Expectations 
Indonesia’s economy expanded 5.47% YoY in 3Q26, accelerating from 5.29% in 2Q26 and above market expectations of 5.2%, bringing 9M26 growth to 5.45% YoY, while GDP grew 1.59% QoQ. Private consumption held at 5.04% (vs 5.06% in 2Q26), while govt. spending eased to 8.95% (vs 15.97%), driven by higher civil servant salaries and allowances, PPPK hiring and MBG program realization, and fixed investment slowed to 6.06% (vs 6.87%). Exports grew 4.59% (vs 4.07%) and imports rose 7.31% (vs 9.34%), partly on higher energy costs, while by sector, manufacturing accelerated to 5.87% (vs 4.52%). (Trading Economics)

US Non-Farm Payrolls Rose 29K in Sep-26, Below Expectations 
The US economy added 29K jobs in Sep-26, well below forecasts of 90K, following a downwardly revised 133K in Aug 26, while Jul-26 was revised down to -10K, lowering combined Jul–Aug payrolls by 60K. Gains were led by health care (+17K), construction (+11K) and manufacturing (+9K), while financial activities shed 7K jobs. The unemployment rate rose to 4.2% from 4.1%, while average hourly earnings grew 0.1% MoM and 3.0% YoY (vs 0.3% and 3.1%). (Trading Economics)

Indonesia Govt. Confirmed Launch of Free Bank Accounts with IDR 50,000 Initial Balance by End-26 
Coordinating Minister for Economic Affairs Airlangga Hartarto confirmed that the govt. will launch a free bank account program by end-26, targeting 25.16 mn adults aged 17 and above in deciles 1–4, with each new account pre-filled with an initial balance of IDR 50,000. The program, budgeted at around IDR 1.28 tn for the initial phase, is expected to be realized in Dec-26, with recipient data prepared with Bank Rakyat Indonesia (BBRI) and Bank Syariah Indonesia (BRIS) based on BPS and LPS databases, while data and regulatory harmonization are still ongoing. The govt. targets the program to lift national financial inclusion from 93% to close to 99%. (CNN Indonesia) 

Indonesia Govt. Began Distributing 30 kg Rice Aid to 33.2 mn Families for Oct–Dec-26 
The govt. began distributing food aid for Oct–Dec-26, with 33.2 mn families in deciles 1–4 each receiving 30 kg of rice (10 kg/month) in a single distribution, totaling nearly 1 mn tons of rice nationally, following a presidential directive dated 29 Sep-26. To curb food price pressures during the lean season, the govt. will also distribute an additional 1 mn tons of SPHP rice at IDR 12,500/kg for all households, auction around 380,000 tons of BULOG rice aged over one year at IDR 11,000/kg for food industry and MSME use, and release 150,000 tons of BULOG corn stock at IDR 5,500/kg to help small and medium livestock farmers. (CNN Indonesia)

Financial Services Authority (OJK) Signaled Stock Manipulation Cases Could Proceed to Criminal Investigation 
OJK stated on 5 Nov-26 that serious, wide-impact or repeated stock manipulation violations could be escalated beyond administrative fines to criminal investigation, in cooperation with law enforcement under the una via principle in Article 100A(2) of the P2SK Law. Sanctions will consider the severity of the violation, transaction value, impact on market integrity and the role of each party involved. As of 1 Oct-26, OJK was handling 122 alleged capital market violations, comprising 28 in planning, 54 in preliminary review and 40 under examination, while fines in the DSSA (IDR 1.5 tn), BREN IPO allotment (IDR 500 bn) and CUAN public offering (IDR 100 bn) cases totaled IDR 2.1 tn. (Bloomberg Technoz) 

Financial Services Authority (OJK) Examined 15 Illegal Insurance Broker Entities, Four Under Investigation 
OJK is examining 15 entities suspected of operating as unlicensed insurance and reinsurance brokers as of Oct-26, with four already referred to OJK investigators and in the investigation stage, while the number may rise as new data emerge. Meanwhile, 83.45% of insurance and reinsurance cos. have met the first-phase minimum equity requirement, compared with 79.17% for guarantee cos. Total insurance industry assets reached IDR 1,192.84 tn in Sep-26 (+0.98% YoY), with commercial insurance premiums at IDR 252.8 tn (+2.61% YoY), while OJK issued POJK No. 18/2026 on insurer solvency calculation and POJK No. 19/2026 on financial reporting integrity. (CNN Indonesia)

Indonesia’s P2P Lending Outstanding Grew 17.02% YoY to IDR 106.48 tn in Sep-26, 90-Day Default Rate at 5.36% 
Outstanding P2P lending (LPBBTI) grew 17.02% YoY to IDR 106.48 tn in Sep-26, with lending to the MSME sector growing 12.49% YoY, according to OJK. The 90-day default rate (TWP90) reached 5.36%, above OJK’s 5% threshold. Meanwhile, 85 of 94 P2P lending platforms (90.43%) have met the minimum equity requirement of IDR 12.5 bn. (CNBC Indonesia) 

Indonesia’s Forestry Subsector Contracted 2.52% YoY in 3Q26 Amid Forest Fires 
BPS reported that the forestry subsector contracted 2.52% YoY in 3Q26, reversing from 6.02% YoY growth in 2Q26, as forest and land fires weighed on activity, particularly in affected provinces such as Central Kalimantan. BPS noted that the fires slowed several sectors but had limited impact on national growth, which reached 5.47% YoY in 3Q26. Meanwhile, consumption by non-profit institutions serving households (PKLNPRT) grew 5.02% YoY, driven by social and humanitarian activities in response to natural disasters, including the forest fires, the Flores earthquake and the Solok floods. (Bloomberg Technoz)