Jakarta, CNBC Indonesia – Central Bureau of Statistics (BPS) announce numbers output Indonesia’s economy or Gross Domestic Product (GDP) for the second quarter of 2020. As expected, there is a contraction, aka negative growth.
On Wednesday (5/8/2020), the Head of BPS, Suhariyanto, said that Indonesia’s GDP for the April-June 2020 period contracted -5.32% compared to the same period last year (year-on-year/YoY).
“There was a contraction in, our Q1 GDP has dropped in even though year on year is still positive. And the second quarter GDP contracted negative 5.32% (year on year),” Suhariyanto said.
While compared to the previous quarter (quarter-to-quarter/ QtQ), GDP in the second quarter of 2020 experienced a contraction of -4.19%.
Two successive contractions in QtQ make Indonesia practically into a phase of technical recession (technical recession). Because in the first quarter of 2020, QtQ Indonesia’s GDP was minus 2.41%.
In the first half of 2019, Indonesia’s economy could still grow positively 5.06%.
For information, market consensus is gathered CNBC Indonesia estimates that the country’s economy contracted -4.53% YoY and -2.89% QtQ. For the whole of 2020, the consensus formed was a contraction of -0.155%.
(Herdaru P/Hidayat S)
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