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Indonesia's Q1 GDP growth slower than expected

Indonesia's economy grew at a much slower than expected pace in the first quarter as investments and exports weakened, the statistics bureau said on Monday.

Gross domestic product in the January to March quarter rose 5.21 percent from a year earlier, against 5.72 percent in the fourth quarter and compared with 5.60 percent forecast in a Reuters poll.

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On a quarterly basis, the economy expanded 0.95 percent.

Growth in Southeast Asia's biggest economy has been supported by buoyant domestic demand and underpinned by strong consumption from a rising middle class.

High rise residential and commercial buildings stand in Jakarta, Indonesia.
Dimas Ardian | Bloomberg | Getty Images
High rise residential and commercial buildings stand in Jakarta, Indonesia.

Indonesia reported a narrower trade surplus in March of $670 million on Friday, due to a modest decline in imports, while exports eked out growth of 1.24 percent against a fall the previous month.

April's annual inflation rate eased further to 7.25 percent, on lower food prices with the onset of the harvest season.

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