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Indonesia's May trade balance in surplus, inflation slowed further

Published on Jul 1, 2014 2:38 PM

JAKARTA (AFP) - Indonesia said on Tuesday its trade balance swung back to surplus in May and reported a flurry of other positive data, a boost for South-east Asia's top economy after a recent slowdown.

The surplus was slightly higher than expected at US$70 million (S$87 million), according to the statistics agency, after a deficit of almost US$2 billion in April as exports were hit by a controversial mineral ore export ban.

Inflation slowed further to 6.70 per cent year-on-year in June after spiking last year following a rise in fuel prices, the agency said, and a manufacturing activity survey hit a new record high.

Some good news will be a relief for policymakers after GDP growth in the first quarter slipped to an annualised 5.21 per cent, its slowest pace since late 2009, due in large part to the ban on shipment of some unprocessed mineral ores.

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