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Indonesian growth slows in first quarter

Published on May 5, 2014 2:43 PM

JAKARTA (AFP) - Indonesian growth slowed more than expected in the first quarter, official data showed on Monday, as weak exports and tight monetary policy weighed on Southeast Asia's top economy.

Growth in the archipelago nation has been easing over the past year as Chinese demand for key commodities slows, foreign investors are put off by policies perceived as nationalistic and interest rate hikes curb lending.

Year-on-year growth slipped to 5.21 percent in the three months to the end of March, down from 5.72 percent on-year expansion in the fourth quarter of 2013, the official statistics agency said.

Economists had forecast growth of 5.60 percent.

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