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Indonesian economic growth holds firm at 6.5pc

Indonesia’s economy expanded 6.5 percent in the fourth quarter from a year earlier, as surging domestic consumption and investment offset weakening exports growth, giving the central bank room to hold rates steady last week.

The rise in gross domestic product (GDP) was slightly above the median forecast in a Reuters poll of 6.4 percent. It marked the third straight quarter of 6.5 percent expansion.

The data also showed the economy shrank 1.3 percent from the previous quarter, a slightly smaller contraction than the 1.5 percent forecast.

(Source: CNBC)