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Financial News: Indonesia GDP Growth Slows In Q1; Below Forecast

Indonesia GDP Growth Slows In Q1; Below Forecast

05/06/2019 - 09:46:00 (RTTNews)

(RTTNews) - Indonesia's economy grew at a slower pace in the first quarter of the year amid weaker exports and investment, preliminary data from the statistical bureau showed on Monday.

Gross domestic product grew 5.07 percent year-on-year following a 5.18 percent expansion in the previous three months. Economists had expected the pace of growth to remain unchanged.

Exports shrunk 2.08 percent, while gross domestic fixed capital formation grew 5.03 percent. Government spending rose 5.21 percent. Private consumption increased 5.01 percent.

On a quarter-on-quarter basis, GDP decreased 0.52 percent in the first three months of the year.

The Indonesian government has forecast 5.3 percent growth this year and the Bank Indonesia has predicted the pace of economic expansion in the 5-5.4 percent range.

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