Indonesia’s economy is expected to have grown slightly faster in the first quarter of 2017, thanks to improved exports, a Reuters poll showed.
Southeast Asia’s largest economy was seen expanding 5.00 percent in the January-March period on an annual basis, according to the median forecast of 18 analysts in the poll.
That would be just up from the fourth quarter’s 4.94 percent, which was a touch slower than the 5.01 percent clocked in the prior quarter.
The Central Statistics Agency is scheduled to announce the gross domestic growth rate on Friday (05/05).
Indonesia’s central bank has said growth in the first quarter may not be as strong as it had initially expected, while a senior official said recently the pace was probably similar to the fourth quarter.
Bank Indonesia (BI) said household consumption, the main growth engine, had probably weakened during January-March, but exports and investment had improved.
By value, exports were up more than 20 percent in the first quarter compared to a year ago, data from the statistics agency showed.
BI Governor Agus Martowardojo said growth will likely improve in the second quarter and will eventually reach 5.2 percent for all of 2017, the midpoint of the bank’s 5.0 percent to 5.4 percent outlook.
For full-year 2017, a smaller pool of analysts forecast Indonesia’s economy to grow 5.15 percent. The government’s growth target for this year is 5.1 percent.