The brakes are on Indonesia's economy in a big way

Photo by Bob Levey/Getty Images

Indonesia’s economy continued to slow in the June quarter with an annual growth rate of 4.67% reported.

The expansion, below the 4.71% pace of Q1, was the lowest level seen since 2009.

The figure fractionally beat market expectations for growth of 4.61%.

From a year earlier household consumption, around 55% of GDP, slowed to 4.97% from 5.01% while that for the public sector fell to 2.28% from 2.71%.

Elsewhere gross fixed capital formation, just over a third of GDP, slowed to 3.55% from 4.29%.

Imports, down 6.85%, went downhill faster than a 0.13% drop in exports.

In Indonesia, industry accounts for 45.7% of total economic output, overshadowing services (39.9%) and agriculture (14.4%) according to the Asian Development Bank.

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