Weakest in three years – ANZ
Fundamental Forex Analysis

Weakest in three years – ANZ

In the view of the analysts at Australia and New Zealand Banking Group (ANZ), weakening domestic consumption knocked off the Indonesian GDP growth to its slowest in three years.

Key Quotes:

“Indonesia’s economy ended 2019 on a weak note, with GDP growth moderating further to 4.97% in Q4 from 5.02% y/y in Q3, the softest reading in three years.

Domestic demand continued to soften, while a sharper contraction in imports relative to exports resulted in a boost to net export growth.

Unless commodity prices stage a strong rebound or global growth picks up materially, Indonesia’s growth is likely to remain stuck around the current pace in the coming quarters, in our view.”

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