Indonesia’s economy shrank 2.41% on quarter in the three months to March (Q1) 2020, the steepest quarterly contraction since the last quarter of 2009. The COVID-19 crisis took a huge toll on the economy, with nonessential businesses being closed since mid-March. Negative contributions came from household consumption (-1.97% vs 0.04%), government spending (-44.2% vs 37.05%) and fixed investment (-7.89% vs 3.69%).
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