Indonesian Growth Stalls at 4.7%

South East Asia’s largest economy, Indonesia, grew at its weakest annual pace since 2009 in the first quarter of this year.

The economy expanded 4.7% from January to March from a year ago – weaker than 5% in the fourth quarter of last year.

The figure also missed market expectations of growth of about 4.95% for the quarter.
Indonesia’s growth was hurt by a slowing demand for exports and falling oil prices, the government said.

Glenn Maguire, Asia chief economist for ANZ, said the data confirms the view that the Indonesian economy is struggling to find a “base”.

“Indeed, it appears that the government will be attempting to rely on fiscal policy – bringing forward infrastructure spending to stabilise growth,” he told Reuters.

via BBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza