JAKARTA: Indonesia’s annual economic growth in the fourth quarter dipped below 5 percent again, weaker than expected and a second straight quarter of slowdown, the statistics bureau said on Monday (06/02).
Southeast Asia’s largest economy grew 4.94 percent on an annual basis in October-December, data from the bureau showed. Growth in the July-September quarter was 5.01 percent, while the median forecast of a Reuters poll for the last period of 2016 was 5.07 percent.
Gross domestic product expanded 5.02 percent during 2016, up from the revised 4.88 percent in 2015, the bureau also said. The poll had expected a growth rate of 5.03 percent.
The government had originally set a 5.3 percent growth target for last year. But near the end of the year, officials have said 2016 growth might only be 5 percent.
On a quarterly, non-seasonally adjusted basis, GDP in the final quarter of last year contracted 1.77 percent.
