Indonesia’s last quarter growth displayed data indicating the fastest growth ever for sometime as record-low interest rates boosted consumer spending in South East Asia’s largest economy and exports and investment recovered.
Gross domestic product grew 5.79% in the three months to March 31 from a year earlier, compared with 5.4% in the previous quarter, according to the median forecast of 20 economists in a Bloomberg News survey.
That would be the fastest pace since Sept 2008. Indonesia’s statistics bureau is due to release the data on May 10 in Jakarta.
Bank Indonesia has left its benchmark interest rate at 6.5% since August and urged lenders to expand credit That’s lifted earnings at companies including PT Bank Rakyat Indonesia.
So, this will be good for companies like Maybank and Axiata.
