Indonesia readies more incentives as growth dips to one-year low

Quick Summary:

Indonesia is preparing more measures to boost purchasing power, as a spate of factory closures and job cuts weakened consumption and slowed economic growth last quarter.

Today’s data show Indonesia’s unemployment rate fell to 4.91 percent in August, from 5.32 percent in the same month of 2023.

Coordinating Minister for Economic Affairs Airlangga Hartarto said that the fourth-quarter growth print could be much better as the government plans to roll out incentives for investment into labor-intensive sectors.

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Article Details

Author / Journalist: Grace Sihombing | Bloomberg

Category: BusinessStartups

Markets: PhilippinesIndonesia

Topics: Economic Economy Percent Consumption Tuesday Data Growth Quarter Government Indonesia Purchasing

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 11:24:07 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 899 words

Reading Time: 5 minutes read

Sentences: 29 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23446691

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