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Indonesia's Economy Expands More Than Forecast

Indonesia's economy expanded more than expected in the fourth quarter, data from statistics bureau revealed Monday.

Gross domestic product grew 5.19 percent year-on-year, slightly better than the expected growth of 5.12 percent. In the third quarter, the economy had advanced 5.1 percent.

On a quarterly basis, the economy contracted 1.7 percent as expected in the fourth quarter.

In the whole year of 2017, GDP climbed 5.07 percent, data showed.

However, looking ahead, there is little prospect of a sustained recovery, Gareth Leather, an economist at Capital Economics, said.

The upshot is that whereas the consensus is expecting growth to accelerate gradually over the next couple of years, growth is expected to come in at 5.0 percent in both 2018 and 2019, the economist added.

by RTT Staff Writer

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