Indonesia's economy shrinks year-on-year in third quarter, suffers first recession in over 20 years
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FRIDAY, JANUARY 27, 2023
Indonesia's economy shrinks year-on-year in third quarter, suffers first recession in over 20 years

Global Economy

Reuters
05 November, 2020, 10:50 am
Last modified: 05 November, 2020, 10:53 am

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Indonesia's economy shrinks year-on-year in third quarter, suffers first recession in over 20 years

On a quarterly basis, the economy grew a non-seasonally adjusted 5.05% in the July-September period, the data showed

Reuters
05 November, 2020, 10:50 am
Last modified: 05 November, 2020, 10:53 am
A worker walks at a construction site during dusk in Jakarta, Indonesia, April 4, 2019/ Reuters
A worker walks at a construction site during dusk in Jakarta, Indonesia, April 4, 2019/ Reuters

Indonesia's economy contracted by slightly more than expected in the third quarter as the coronavirus outbreak helped trigger its first recession in over 20 years, data from the statistics bureau showed on Thursday.

Southeast Asia's largest economy shrank 3.49% on an annual basis in the July-September period, compared with a 3% decline forecast in a Reuters poll. The economy contracted 5.32% in the second quarter.

On a quarterly basis, the economy grew a non-seasonally adjusted 5.05% in the July-September period, the data showed.

Top News / World+Biz

Indonesia / Economy / shrinks

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