Indonesian Economy Contracts 0.52% QoQ in Q1
Indonesia's gross domestic product shrank 0.52 percent quarter-on-quarter in the three months to March 2019, worse than market expectations of a 0.4 percent fall and following a 1.69 percent contraction in the previous period. Private consumption remained sluggish, while there were sharp declines in both fixed investment and government spending.
5/6/2019 10:12:09 AM
On the expenditure side, private consumption remained subdued (0.04 percent vs 0.09 percent in Q4), while fixed investment contracted sharply (-5.74 percent vs 3.80 percent) and government spending slumped (-45.78 percent vs 37.72 percent). Meantime, net external demand contributed positively to the GDP as imports plunged 17.34 percent (vs 2.96 percent in Q4), much more than a 7.04 percent drop in exports (vs -2.22 percent in Q4).
On the production side, activity contracted for: mining and quarrying (-0.25 percent vs -0.16 percent); electricity and gas (-3.70 percent vs 1.46 percent); water supply, sewerage, waste management and remediation activities (-0.15 percent vs 3.53 percent); construction (-4.30 percent vs 4.60 percent); transportation and storage (-0.56 percent vs 0.2 percent); public administration (-9.49 percent vs 12.47 percent); education services (-10.78 percent vs 11.45 percent); and healthcare and social activities (-1.26 percent vs 5.98 percent). By contrast, output grew the most for agriculture, forestry and fishing (14.10 percent vs -21.41 percent), followed by financial services & insurance (3.33 percent vs -0.02 percent); information and communication (2.77 percent vs 0.40 percent); real estate activities (2.52 percent vs 0.91 percent), business activities (2.44 percent vs 1.76 percent); wholesale and retail trade (1.27 percent vs -2.18 percent); accommodation and food service (0.68 percent vs 1.51 percent); and manufacturing (0.37 percent vs -1.16 percent).