Weakest growth in four years for Indonesia
Indonesia’s growth is at its weakest point for four years.
Growth in Indonesia has slipped to its weakest point in the last four years, according to the latest official financial data released in the Asian nation.
During the July to September quarter, its economy expanded by 5.6 per cent, which was down from 5.8 per cent in the previous three months.
Emerging markets such as Indonesia have been affected in recent months by investors pulling out over fears the US will start to scale back its quantitative easing programme in the near future.
Indonesian currency has also been badly hurt by this trend, with it having dipped by nearly 17 per cent against the US dollar since May this year.
The country's government recently responded to the slowing growth in the Asian nation by raising the key borrowing rate to 7.25 per cent. This is the highest level in more than four years.
Despite the fall in economic growth, the local composite stock market rose by 0.12 per cent today (November 6th) on the back of the news.
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