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Jakarta Post

Indonesian GDP growth slows further amid cooling investment, exports

  • Riska Rahman

    The Jakarta Post

PREMIUM
Jakarta   /   Tue, December 17, 2019   /  08:01 am
The Jakarta Post Image
Thick smog blankets the high-rise buildings in Jakarta's business district of the Jl. Sudirman area on Oct. 9.(JP/Dhoni Setiawan)

Indonesia’s economic growth has slowed further in 2019 to a level unseen in more than two years as global economic uncertainty has spilled over to the country, adversely affecting investment and exports. The country’s gross domestic product (GDP) grew by 5.02 percent in this year’s third quarter compared to 5.17 percent recorded in the same period last year. The figure marks a slowdown from year-on-year (yoy) growth of 5.07 percent and 5.05 percent penciled in the first and second quarter of this year, respectively. GDP growth in this year’s third quarter was the slowest since 5.01 percent recorded in the second quarter of 2017 and far below the target of 5.3 percent stipulated in the 2019 state budget. Growth of household spending, which accounts for more than half of the GDP, stagnated at 5.01 percent yoy in the third quarter, while investment, whic...