Indonesia Q1 GDP misses estimates with 5.06% rise

07.05.2018

Indonesia’s economy grew at a slower pace than forecast in the first three months of 2018.

The country’s gross domestic product grew 5.06 per cent year on year in the three months to the end of March, according to Statistics Indonesia, coming in below the 5.18 per cent growth forecast by economists in a Reuters poll. That was also below the 5.19 per cent growth in the previous quarter.

In quarter-on-quarter terms, the Indonesian economy fell 0.42 per cent, missing forecasts of 0.3 per cent growth.

Gareth Leather, senior Asia economist for Capital Economics said he saw “little prospect of rebound” as subdued prices for Indonesia’s commodities exports such as palm oil meant revenues were “likely to remain low by past standards”. Capital Economics expects growth to remain at around 5 per cent.


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