Indonesia Q1 GDP Growth Slows More Than Expected to 4.71%, Weakest Since 2009
Jakarta. Indonesia’s economic growth in the first quarter slumped to its weakest annual pace since 2009, hurt by slowing demand from major export partners and a drop in global oil prices, the statistics bureau said on Tuesday.
Gross domestic product (GDP) expanded 4.71 percent in January-March from a year ago, weakening from 5.01 percent in the final quarter of last year.
A Reuters poll of analysts had expected GDP growth at 4.95 percent for the first quarter of this year. The statistics office uses 2010 GDP as its basis for calculation since the fourth quarter of 2014.
Full year growth in 2014 was the slowest in five years.
On quarterly basis, GDP contracted 0.18 percent from the previous quarter.
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Source: The Jakarta Globe