Indonesia's GDP expands 5.07% y/y in Q1, misses estimates

Indonesia's economy expanded less quickly than expected in the first quarter of 2019, the latest government data showed on Monday.

Southeast Asia's largest economy grew 5.07% in January-March from a year earlier vs. 5.18% growth seen in Q4 2018 and 5.18% expectations.

On a quarterly, Indonesian gross domestic product (GDP) contracted 0.52% in Q1 2019 vs. -1.69% previous and -0.40% expected

The GDP growth rate was still below the government's growth target for last year of 5.4% and way below the 7% level that President Joko Widodo pledged to achieve.