07 Aug '17, 4am

Indonesia economy grows 5.01% in Q2, less than expected

JAKARTA (REUTERS) - Indonesia's annual economic growth grew more slowly than expected in the second quarter, with growth in some key sectors slowing and pivotal private consumption remaining sluggish. Southeast Asia's largest economy grew 5.01 per cent in April-June from a year earlier, slower than expected and unchanged from the first quarter's pace. "The recovery is ongoing, just at a slower pace than we have previously expected," said Gundy Cahyadi, an economist at DBS Bank. "Overall, we now see more downside risks to our 2018 GDP growth forecast of 5.4 per cent, even if we maintain our 2017 GDP growth forecast at 5.1 per cent for now," Cahyadi said. Indonesia has been struggling to accelerate growth meaningfully to create jobs and improve the livelihood of its 250 million population. Many analysts say a 5 per cent growth rate is not enough. Get The Straits Times newsle...

Full article: http://www.straitstimes.com/business/economy/indonesia-ec...

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