Indonesia’s economic growth in the first quarter (Q1) slowed significantly more than expected to the weakest in nearly two decades, as the coronavirus pandemic brought business activity to a halt, statistics bureau data showed on Tuesday.
The largest economic country of the Southeast Asia grew 2.97 per cent in January-March from the same period a year earlier, the weakest since the fourth quarter of 2001, according to OECD data.
A Reuters poll had forecast growth of 4.04 per cent, while the central bank predicted 4.3 per cent.
On a quarterly, non-seasonally adjusted basis, the economy contracted 2.41 per cent.