Indonesia records slowest growth in 6 years
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JAKARTA - Indonesia registered economic growth of 5.04 percent in the last quarter of 2015, making its full-year growth 4.79 percent last year. This is the slowest annual growth in the last six years, after the 4.5 percent growth of 2009.
Three sectors have driven GDP growth to its slower pace, Central Statistics Agency (BPS) data shows. The mining industry faded due to the global coal and oil price slump, agriculture was hampered by El Nino and the trading sector was sluggish due to decreasing automotive sales.
“Meanwhile, construction grew due to government spending, banking recorded high growth due to higher margins, while the transportation, hotels and communication sectors increased thanks to the Christmas and New Year holiday,” said BPS Head Suryamin in Jakarta on Friday.
Major household consumption was sluggish except for restaurants, housing, household equipment and health. “The simultaneous regional elections helped boost consumption,” Suryamin explained.
