Amid the coronavirus pandemic, Indonesia's economy slipped into a recession for the first time since the Asian financial crisis in 1998, data released by the statistics bureau revealed Thursday.
Gross domestic product fell 3.49 percent on a yearly basis in the third quarter after shrinking 5.32 percent in the second quarter. Economists had forecast an annual decline of 3 percent.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.