Indonesia's GDP expands 5.17% y/y in Q2, beats estimates – USD/IDR keeps 7-week highs
|Indonesia's economy expanded more-than-expected in the second quarter of 2019, the latest government data showed on Monday.
Southeast Asia's largest economy grew 5.17% in April-June from a year earlier vs. 5.07% growth seen in Q1 2019 and 5.06% expectations.
On a quarterly, Indonesian gross domestic product (GDP) jumped by 4.20% in Q2 2019 vs. -0.52% previous and +4.20% expected
The GDP growth rate was still below the government's growth target for last year of 5.4% and way below the 7% level that President Joko Widodo pledged to achieve.
Despite the upbeat Indonesian growth figures, the Indonesian Rupiah remains at seven-week lows against the US dollar, tracking the slide in the Chinese Yuan amid US-China trade woes. USD/IDR flirts with multi-week tops of 14,260 levels, up +0.60% so far.
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