The household savings stash built up during pandemic lockdowns looks to be mostly spent already, reinforcing fears that the growth rebound from the COVID-19 shock is already waning as the Federal Reserve gears up to reduce support.
Indonesia reported a current account deficit of $2.2 billion, or 0.8% of its gross domestic product in the second quarter, bigger than the 0.4% deficit in the previous three months, according to a central bank report released on Friday.