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REUTERS
November 6, 2018

Indonesia’s Q3 GDP growth slows

Business

REUTERS
November 6, 2018

JAKARTA: Indonesia´s economic growth slowed in the third quarter, losing momentum from the previous three months and pointing to tougher conditions for the Southeast Asian economy, which has struggled with capital outflows and weaker exports and household spending.

Gross domestic product (GDP) expanded 5.17 percent in the July-September quarter from a year earlier, the statistics bureau said on Monday, compared with a 5.15 percent expansion expected in a Reuters poll and the second quarter´s 5.27 percent.

The April-June quarter pace was the fastest since late 2013.The slowdown was largely due to softer household consumption in the third quarter and a negative contribution from foreign trade.

Although the expansion was a notch faster than expected, economists warn growth may weaken further. "We think growth will tend to be slower in the coming future due to the impact of weakening rupiah," Fakhrul Fulvian, Jakarta-based chief economist of Trimegah Securities said.

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