July 19, 2019 / 6:23 AM / a month ago

Indonesia central bank says indicators show improvement in economy in third quarter

FILE PHOTO: People walk on a pedestrian lane during a traffic jam at a business district in Jakarta, Indonesia, June 20, 2019. REUTERS/Willy Kurniawan/File Photo

JAKARTA (Reuters) - Indonesia’s economic indicators, including results of business and banking surveys, showed an improvement in activity at the start of the third quarter of this year, Bank Indonesia (BI) governor told reporters on Friday.

Perry Warjiyo said the factory sector will likely remain “expansive” in the July-September quarter, though the growth rate may not be as high as in the first half “as the effect of trade war hits exports and the manufacturing industry”.

BI cut its benchmark interest rate on Thursday to lift sluggish economic growth, while predicting that GDP will expand at the same pace in the second quarter as the 5.1% rate in the first three months of the year.

Reporting by Maikel Jefriando; Writing by Gayatri Suroyo; Editing by Shri Navaratnam

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