Indonesia's economy seen contracting more slowly in Q1

Southeast Asia's largest economy is expected to have slumped 0.74% from a year ago during the January-March quarter.

JAKARTA: Indonesia's economy is expected to have contracted more slowly on an annual basis in the first quarter of 2021 as higher consumer spending and investment helped underpin the economy's recovery from the COVID-19 pandemic.

Southeast Asia's largest economy is expected to have slumped 0.74% from a year ago during the January-March quarter, after a 2.19 year-on-year contraction in the final quarter of 2020, according to the median forecast of 22 analysts in a Reuters poll.