FX.co ★ Indonesian GDP Shrinks by -0.83% in First Quarter of 2024

Indonesia's Gross Domestic Product (GDP) took a downturn in the first quarter of 2024, recording a -0.83% decrease from the previous quarter. This decline comes after a 0.45% growth in the fourth quarter of 2023. The data was updated on May 6, 2024, reflecting a quarter-over-quarter comparison that shows a stark contrast between the positive growth experienced at the end of last year and the current economic contraction. With this recent development, policymakers and economists are closely monitoring the situation to understand the factors contributing to this shift in the country's economic performance. As Indonesia navigates through these challenging times, efforts are likely to be focused on stabilizing the economy and promoting growth in the upcoming quarters.