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Indonesia’s economic activity notched a marginal rise in year-on-year growth during the first quarter, in line with expectations, as quarter-on-quarter contraction decelerated.

Gross domestic product grew 5.01 per cent year on year in the first quarter of 2017, eking out a slight increase from 4.94 per cent growth in the December quarter and hitting a mean forecast of 5 per cent from economists polled by Reuters.

In quarter-on-quarter terms GDP contracted 0.34 per cent during the three months ended March, improving from a fall of 1.77 per cent in the fourth quarter and in line with expectations of a 0.35 per cent drop.

Recent indicators have suggested mild improvement in Indonesia’s economic straits, with manufacturing PMI climbing to a 10-month high in April on growth in new orders and export demand.

Copyright The Financial Times Limited 2017. All rights reserved.

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