Indonesia suffers first recession in over 20 years; worst seen over ...Qatar

Gulf Times - News
Indonesia suffers first recession in over 20 years; worst seen over
source : Gulf Times ( Qatar ) () 24
Indonesia suffered its first recession in over two decades as the Covid-19 pandemic hit consumption and business activity in Southeast Asia’s largest economy, costing millions of jobs, the statistics bureau said yesterday. Gross domestic product (GDP) shrank by a slightly more than expected 3.49% year-on-year as household consumption and investment fell in the third quarter, official data showed. Economists in a Reuters poll had expected GDP to decline 3% after a 5.32% contraction in the second quarter. Finance Minister Sri Mulyani Indrawati told a news conference the “the worst is over” pointing to a sharp rebound in quarterly GDP in the July-September period. But a separate statistics bur

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