Indonesia annual Q1 GDP growth slowest in more than three years
Analysts expect slower expansion this year, as weakening domestic demand and ongoing trade wars threaten to dampen exports
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[JAKARTA] Indonesia’s economy hit the brakes in the first quarter, as sluggish consumer spending and tightened government purse strings cast a shadow over growth.
The country’s gross domestic product grew 4.87 per cent year on year in Q1 – its weakest performance since 2021, Statistics Agency data showed on Monday (May 5). That figure fell short of both the previous quarter’s 5.02 per cent expansion and the 4.93 per cent median forecast in a Bloomberg survey.
On a quarter-to-quarter basis, the economy shrank by 0.98 per cent, reflecting a soft start to the year for South-east Asia’s largest economy.
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