Indonesia Expanded At Lowest Rate in 4 Years

Indonesia’s economy expanded at its weakest rate in four years in the third quarter as a result of slowing exports and subdued domestic demand.

Its economy grew 5.6% in the July-to-September period from a year earlier, down from 5.8% in the previous quarter.

Indonesia’s exports have been hurt by slowing demand from key markets and a drop in commodity prices.

Meanwhile, domestic demand has been impacted by rising fuel prices and rising interest rates.

Fuel prices in the country surged earlier this year after the government removed its subsidy programme.

Petrol prices went up by 44% while diesel prices rose by 22%, leading to higher transportation costs and electricity bills.

via BBC


Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza