Indonesia first-quarter GDP growth slower than expected as investment cools

JAKARTA - Indonesia’s gross domestic product grew more slowly than expected in the first quarter of this year, as investment dropped and prices of its main commodities softened, data from the statistics bureau showed on Monday.

The statistics bureau attributed the weaker growth to soft investment, while household consumption, which represents more than half of the economy, also lost momentum and slowed slightly. Despite missing expectation, Masyita Crystallin, an economist with DBS, described the data as “pretty good considering pressure from external factors”, noting other world economies were also growing more slowly.

Fakhrul Fulvian, an economist at Trimegah Securities in Jakarta, said with economic and investment growth slowing, the current account deficit should shrink this year. In January-March, annual investment growth slowed to 5 percent, from 6 percent in the previous three months.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks wilt after weak China data; euro zone GDP in focusEuropean equity markets nudged down on Tuesday as weak Chinese business surveys ...
Source: Reuters - 🏆 2. / 97 Read more »

Amazon leads the FAANG stocks in first-quarter lobbying spendingThe tech titans’ significant spending to influence lawmakers and regulators comes as the companies face increasing scrutiny over how they handle their users’ data and how they deal with misinformation and political bias.
Source: MarketWatch - 🏆 3. / 97 Read more »