Indonesia’s Q4 GDP growth: Weakest in three years – ANZ

Dhwani Mehta FXStreet

In the view of the analysts at Australia and New Zealand Banking Group (ANZ), weakening domestic consumption knocked off the Indonesian GDP growth to its slowest in three years.

Key Quotes:

“Indonesia’s economy ended 2019 on a weak note, with GDP growth moderating further to 4.97% in Q4 from 5.02% y/y in Q3, the softest reading in three years.

Domestic demand continued to soften, while a sharper contraction in imports relative to exports resulted in a boost to net export growth.

Unless commodity prices stage a strong rebound or global growth picks up materially, Indonesia’s growth is likely to remain stuck around the current pace in the coming quarters, in our view.”

USD/IDR: Rupiah remains pressured as Indonesia’s Q4 GDP disappoints with 4.97%

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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