Indonesia Growth Fails to Pick Up in Setback to Jokowi Reforms
- Economy expands 4.92%, less than median estimate in survey
- Disappointing growth adds to pressure for interest-rate cuts
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Indonesia’s economy grew less than analysts expected in the first quarter, a setback to President Joko Widodo’s efforts to rejuvenate growth and implement reforms in Southeast Asia’s largest nation.
Gross domestic product increased 4.92 percent in the first three months of the year compared with the same period in 2015, down from a previously reported 5.04 percent in the fourth quarter, the statistics bureau said in Jakarta on Wednesday. That’s less than the 5.07 percent median estimate in a Bloomberg survey of 15 economists.