BOTTOM LINE: There were no significant changes in economic situation since early June to the third week of July. The general prices recorded a deflation in June and would be back to a mild inflation in July. Rupiah value is somewhat volatile at the manageable level, and so did the stock prices, while banking sector is still difficult to exit the stagnation in its intermediary function as reflected in the slowing down lending activities. The second wave of Covid-19 outbreak has impeded the pace of manufacturing expansion. Exports grew slower than the imports causing a lower trade surplus in monthly basis, but the surplus has doubled over Jan-Jun this year compared with the same period of last year.