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Financial News: Indonesia's GDP Growth Eases In Q3

Indonesia's GDP Growth Eases In Q3

11/05/2021 - 01:52:00 (RTTNews)

(RTTNews) - Indonesia's economy expanded at a slower pace in the third quarter, Statistics Indonesia reported Friday.

Gross domestic product expanded 3.51 percent on a yearly basis, after rising 7.07 percent in the second quarter. This was weaker than the expected growth of 3.76 percent. Nonetheless, the economy expanded for the second consecutive quarter.

On a quarterly basis, the economy grew 1.55 percent, slower than the economists' forecast of 1.8 percent.

With restrictions being relaxed and virus cases now very low, the economy is expected to bounce back strongly in the final quarter, Gareth Leather, an economist at Capital Economics, said. That said, any tightening of monetary policy is still a long way off.

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