Indonesia GDP growth slows to 4.94% y-o-y in Q4

[JAKARTA] Indonesia's annual economic growth in the fourth quarter dipped below 5 per cent again, weaker than expected and a second straight quarter of slowdown, the statistics bureau said on Monday.

South-east Asia's largest economy grew 4.94 per cent on an annual basis in October-December, data from the bureau showed. Growth in the July-September quarter was 5.01 per cent, while the median forecast of a Reuters poll for the last period of 2016 was 5.07 per cent.

Gross domestic product expanded 5.02 per cent during 2016, up from the revised 4.88 per cent in 2015, the bureau also said. The poll had expected a growth rate of 5.03 per cent.

The government had originally set a 5.3 per cent growth target for last year. But near the end of the year, officials have said 2016 growth might only be 5 per cent.

On a quarterly, non-seasonally adjusted basis, GDP in the final quarter of last year contracted 1.77 per cent.

REUTERS