Indonesia's economy shrinks year-on-year in Q3

MACROECONOMICS - ​JAKARTA. Indonesia's economy contracted by slightly more than expected in the third quarter as the coronavirus outbreak helped trigger its first recession in over 20 years, data from the statistics bureau showed on Thursday.

Southeast Asia's largest economy shrank 3.49% on an annual basis in the July-September period, compared with a 3% decline forecast in a Reuters poll. The economy contracted 5.32% in the second quarter.

On a quarterly basis, the economy grew a non-seasonally adjusted 5.05% in the July-September period, the data showed.