What The US Quietly Controls—But Never Talks About
From macro perspectives, since the announcement of Trump’s reciprocal tariffs in April 2025, discourse surrounding the trade war has largely focused on goods while virtually ignoring the trade in services. This oversight is crucial, as services have become central to global commerce, thanks to rapid technological advances and deregulation. Today’s services encompass everything from digital […]
Insurance Quarterly Report: Kuartal IV- 2024
Kinerja Asuransi Jiwa Premi: Pada tahun 2024, industri asuransi jiwa mencatat pertumbuhan premi yang tipis sebesar 3,4% YoY menjadi Rp162,7 triliun, didorong oleh kenaikan dari kanal distribusi utama, yaitu bancassurance dan agen asuransi. Sementara itu, kanal digital tumbuh cukup pesat, namun kontribusinya terhadap total premi industri masih relatif kecil. Klaim: Pada tahun 2024, total klaim […]
Macroeconomic Monitor March 2025
US Economy: The US Services PMI dropped to 51.0 in February 2025 from January 2025’s 52.9, above the flash estimate of 49.7 yet below expectations of 53, signalling the slowest growth in services sector since November 2023. The US annual inflation rate eased to 2.8% YoY. While the consumer price index (CPI) has seen a […]
Potential Consequences of the Upcoming SEOJK Health Insurance Regulation
Produk asuransi kesehatan di industri asuransi menghadapi tantangan besar akibat tren kenaikan klaim yang dipicu oleh inflasi biaya medis. Beban klaim yang semakin tinggi berisiko menekan profitabilitas perusahaan asuransi, yang pada akhirnya dapat berdampak pada kenaikan premi dan keterjangkauan asuransi bagi masyarakat. Merespon hal ini, OJK sedang merancang regulasi baru melalui SEOJK tentang Penyelenggaraan Produk […]
Macroeconomic Monitor February 2025
In January 2025, the U.S. economy showed resilience, with the Manufacturing PMI rising to 51.2, signaling expansion, while the Services PMI declined to 52.9 due to post-holiday normalization. The labor market remained robust as the unemployment rate dropped to 4.0%, with 143,000 new jobs, primarily in healthcare and retail. Inflation increased to 3.0% YoY, driven […]
Macroeconomic Monitor January 2025
In December 2024, the U.S. economy showed signs of resilience and growth across key sectors, with the Manufacturing and Services PMI reflecting positive momentum. The labor market remained robust as the unemployment rate declined to 4.1% (year-on-year/ yoy), driven by strong job growth in healthcare and retail. Inflation rose to 2.9% (yoy), driven by low […]
Macroeconomic Monitor December 2024 – Looking Back, Moving Forward: Macroeconomic Insights at the End of 2024 and What to Expect at the Start of 2025
The United States economy in late 2024 showed signs of cautious optimism. Consumer confidence improved, reaching 111.7 in November, supported by labor market strength. Manufacturing stabilized, with PMI at 49.7, and inflation remained at 2.7% year-on-year. The Federal Reserve’s rate cut to 4.25%–4.5% balanced growth with inflation control, though it caused market fluctuations, including rising […]
Macroeconomic Monitor November 2024 – Global and Domestic Overview: Resilient Growth, Inflation Trends, and Policy Shifts Across Key Economies
The US economy experienced a slight slowdown in Q3 2024, with GDP growth at 2.8% QoQ (down from 3.0% in Q2), driven by robust consumer and government spending despite declining private investment and higher import growth. Manufacturing remained in contraction with the PMI at 48.5 in October, as industrial production and durable goods orders continued […]
Macroeconomic Monitor October 2024 – The World After Rate Cuts: Declining Consumer Confidence and Disruptions in Middle-Class Spending
Globally, United States consumer confidence weakened significantly to pessimistic region in September 2024, with the Consumer Confidence Index falling to 98.7 from 105.6 in August 2024, marking the largest drop since August 2021. Concerns about job security, reduced hours, and fewer job openings contributed to the decline. Meanwhile, US Purchasing Manager’s Index indicates a third […]
Macroeconomic Monitor September 2024 – Navigating Economic Challenges: Growth and Headwinds Across Key Global Economies
The US economy showed strong GDP growth in Q1 2024, driven by personal and government spending, while manufacturing contracted in August with a PMI of 47.9, signaling weaker demand and a potential slowdown in production. Meanwhile, the Federal Reserve implemented a 50-bps rate cut in September to support growth amid inflation stabilization and slowing job […]
