Indonesia's Q1 GDP growth slows to weakest since 2001

Indonesia’s economic growth in the first quarter (Q1) slowed significantly more than expected to the weakest in nearly two decades, as the coronavirus pandemic brought business activity to a halt, statistics bureau data showed on Tuesday.

The largest economic country of the Southeast Asia grew 2.97 per cent in January-March from the same period a year earlier, the weakest since the fourth quarter of 2001, according to OECD data.

A Reuters poll had forecast growth of 4.04 per cent, while the central bank predicted 4.3 per cent.

On a quarterly, non-seasonally adjusted basis, the economy contracted 2.41 per cent.