Indonesia: Export woes slow economy

In Indonesia on 11/05/2013 at 7:11 am

Indonesia’s economy grew at 6% in the first three months of the year, its slowest pace in more than two years, as exports slowed.The expansion was slower than the 6.1% reported in the previous quarter, compared to the same period the year before.Last week, the statistics bureau said exports had fallen the most in seven months in March.Analysts said the declining expectation of the global recovery led to a further weakening of global commodity prices.

Its government has set a 2013 growth target of 6.8%.

A few weeks ago, the CEO of Astra (the dominant vehicle distributor) said he expected slower sales, in a FT interview.

BTW, no Asean round-up this week.


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