Indonesia’s Economy Grows 4.94% in Fourth Quarter From Year Ago

• Indonesia’s Economy Grows 4.94% in Fourth Quarter From Year Ago

Indonesia’s economy expanded 4.94 percent in the fourth quarter, below economists’ forecasts.

Key Points

• Gross domestic product rose 4.94 percent in the fourth quarter from a year earlier; the median estimate of economists was for 5 percent growth, the statistics bureau said in Jakarta on Monday
• The economy grew 5.02 percent in 2016, compared with 4.8 percent in 2015; economists estimated growth of 5.02 percent for last year

Big Picture

Southeast Asia’s biggest economy is still undershooting President Joko Widodo’s growth target of 7 percent amid a slowdown in China and lower commodity prices. That’s even after the central bank cut rates six times last year in a bid to boost lending and growth. While the economy is expected to pick up this year, with the International Monetary Fund forecasting 5.1 percent growth, the government is already warning of headwinds arising from global uncertainty, including from policies being introduced by U.S. President Donald Trump.