Indonesia Economy Contracts 0.42% QoQ in Q1

Indonesia's gross domestic product fell 0.42 percent quarter-on-quarter in the three months to March of 2018, following a 1.7 percent decline in the previous period and worse than market consensus of a 0.3 percent contraction. Government spending, fixed investment and exports shrank.

On the expenditure side, government spending slumped 46.10 percent in the first quarter, after a 39.94 percent jump in the previous period, and fixed investment declined by 4.86 percent, compared to a 4.73 percent increase. Also, exports dropped by 1.03 percent (vs 1 percent in Q4) and imports decreased by 3.88 percent (vs 9.47 percent in Q4). On the other hand, private consumption increased by 0.1 percent, after showing no growth in the preceding quarter. 

On the production side, output fell for: education (-11.36 percent); public administration (-8.92 percent); construction (-4.60 percent); electricity and gas (-2.47 percent); human health and social work activities (-2.00 percent); water supply, sewerage, waste management and remediation activities (-1.18 percent); mining and quarrying (-0.60 percent); and transportation and storage (-0.45 percent). On the other hand, output increased for: agriculture, forestry and fishing (16.36 percent); manufacturing (0.70 percent); wholesale and retail trade, repair of motor vehicles and motorcycles (0.46 percent); accommodation and food service (0.67 percent); information and communication (1.22 percent); financial and insurance activities (2.43 percent); real estate (1.30 percent); business activities (1.12 percent); and other services (1.37 percent).

Year-on-year, the economy grew by 5.06 percent, easing from a 5.19 percent growth in the previous period and missing market expectations of 5.18 percent.

Indonesia Economy Contracts 0.42% QoQ in Q1

Statistics Indonesia l Rida Husna |
5/7/2018 9:44:03 AM