Indonesia's economy expanded at a much sluggish pace than expected in the first quarter. This was, in fact, due to the dwindling investments and exports as reported by the statistics bureau on May5. The GDP in the January to March quarter raised by 5.21 % from a year earlier. During the fourth quarter last year, the GDP was at 5.72 %. A recent Reuters poll predicted a GDP level of 5.60 %.
The Indonesian economy rose up by 0.95 % on a quarterly basis. The economy has been supported by optimistic domestic demand and a strong uptrend in the consumption from the rising middle class.
Indonesia reported a tapered $670 million trade surplus in March on May 2. Owing to a meek decline in imports, while exports squeezed the growth of 1.24 % against a fall the previous month. The annual inflation rate in April lessened further to 7.25 %, as the food prices lowered with the onset of the harvest season.
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