Economy6 hours ago (May 05, 2020 12:25AM ET)
(C) Reuters. General view of the main road at the business district after Indonesia’s capital begins a two-week emergency period to prevent the spread of coronavirus disease (COVID-19) in Jakarta
JAKARTA (Reuters) – Indonesia’s economic growth in the first quarter 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.
Southeast Asia’s largest economy grew 2.97% 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%, while the central bank predicted 4.3%.
On a quarterly, non-seasonally adjusted basis, the economy contracted 2.41%.
Indonesia’s first-quarter GDP growth slows to weakest since 2001 on virus curbs
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