JAKARTA: Indonesia’s economy contracted more than expected in the first quarter (Q1), as one of the fastest vaccine rollouts in South-East Asia hasn’t been enough to revive domestic demand.
Gross domestic product (GDP) declined 0.74% in Q1 from a year ago, the statistics bureau said yesterday, worse than the median estimate of -0.65% in a Bloomberg survey of economists. Still, it represented an improvement from the 2.19% contraction in Q4 of 2020.
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