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Indonesia's Q1 GDP growth up slightly, supported by higher commodity prices
[JAKARTA] Indonesia's annual economic growth picked up slightly in the first quarter, supported by higher prices for some of the nation's export commodities, statistics bureau data showed on Friday.
South-east Asia's largest economy grew 5.01 per cent on an annual basis in January-March, data from the bureau showed, above the fourth quarter's 4.94 per cent pace. A Reuters poll had expected a 5 per cent growth rate.
On a quarterly, non-seasonally adjusted basis, gross domestic product (GDP) contracted 0.34 per cent.
The government's growth target for 2017 is 5.1 per cent, while Bank Indonesia is forecasting growth for the year between 5.0-5.4 per cent.