Today (06/11), Statistics Indonesia announced that Indonesia's gross domestic product (GDP) expanded 5.62 percent in the third quarter of 2013 from the same period in 2012. The result implies the continuation of Indonesia's slowing economic growth as Q3-2013 constitutes the fifth consecutive quarter in which the country recorded slowing economic growth. Previously, the government had already expressed its concern about the GDP growth figure in Q3-2013 because the current high inflation rate curbs household consumption.
According to Suryamin, head of Statistics Indonesia, factors that caused Indonesia's slowing economic growth in the third quarter of 2013 were the depreciating rupiah exchange rate, the central bank's higher benchmark interest rate, and high inflation.
A more in-depth analysis of the Q3-2013 GDP growth result will follow in a news column.
Indonesia's Economic Growth 2007-2013 (annual percentage change)
|Year|| Quarter I
||Quarter II||Quarter III||Quarter IV|
Source: Statistics Indonesia (BPS)