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Indonesia economy loses steam in Q2 amid US-China trade war

07-Aug-2019 Intellasia |
ABS-CBN |
6:02 AM

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Indonesia posted a slowest rate of quarterly enlargement in dual years on Monday as Southeast Asia’s biggest economy feels a prick of US-China trade tensions.

Growth enervated to 5.05 percent in a April-June duration as exports and investment slipped. That was down from a 5.27 percent enlargement in a same duration final year.

Indonesia is grappling with weaker prices for pivotal line like spark and palm oil, as a tellurian economy falters on a behind of US President Donald Trump’s heightening trade fight with China.

“The hurdles we’re confronting are not easy to overcome due to a poignant slack in a tellurian economy,” pronounced statistics group conduct Suhariyanto, who goes by one name.

The sagging enlargement serves adult a uninformed plea to Indonesian President Joko Widodo, who was re-elected progressing this year mostly on his infrastructure-driven bid to energize a economy.

But he unsuccessful to strike a betrothed seven-percent aim during his initial tenure and could onslaught to lift a economy off a stream level, analysts said.

“Monthly indicators uncover signs of moderating domestic direct and opposite a backdrop of renewed escalation in trade tensions between a US and China, a opinion for Indonesia’s exports stays bleak,” investigate residence Oxford Economics pronounced in a report.

Last month, Indonesia cut seductiveness rates for a initial time in scarcely dual years in a bid to rev adult a economy.

https://news.abs-cbn.com/business/08/05/19/indonesia-economy-loses-steam-in-q2-amid-us-china-trade-war

 

Category: Indonesia

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Article source: https://www.intellasia.net/indonesia-economy-loses-steam-in-q2-amid-us-china-trade-war-731105

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