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June 26, 2017

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Indonesian economic growth slows to 5.78% in previous year: government

JAKARTA--Indonesian growth slipped to 5.78 percent in 2013, official data showed Wednesday, its slowest pace for four years as Southeast Asia's biggest economy was hit by emerging market turmoil.

The figure was slightly stronger than forecasts but still below the 6.23-percent expansion seen in 2012.

In the fourth quarter growth came in at 5.72 percent year-on-year, the official statistics agency said.

Indonesia was one of the hardest hit emerging markets in the summer when foreign investors pulled funds on fears that the U.S. Federal Reserve was set to start reducing its stimulus program.

It was also dragged by a slowdown in demand, particularly from China, for its key commodities exports.

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