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Indonesia Q3 GDP growth eases to 5.02%, slowest in over 2 years

Posted by on 07 November 2019

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KONTAN.CO.ID - JAKARTA. Indonesia's economy grew 5.02% in third quarter compared with a year earlier, roughly in line with market expectations but the weakest pace in over two years, data from the statistics bureau showed on Tuesday.

Analysts polled by Reuters had expected 5.01% growth in the July-September period. In the previous quarter, Southeast Asia's biggest economy grew 5.05% from the corresponding period in 2018.

On a quarterly, non-seasonally adjusted basis, gross domestic product expanded 3.06%.

Like many of its Asian neighbours, Indonesia has been hit by the global economic slowdown, with shrinking exports as well as weakening domestic consumption. The central bank has cut interest rates four times since July and is expected to ease again in coming months.