Indonesia's Q1 GDP growth slows to weakest since 2001 on virus curbs

PERTUMBUHAN EKONOMI - JAKARTA. 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 (5/5).

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.

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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%.