Indonesia sees first recession in over two decades as coronavirus hits

JAKARTA (Reuters) - Indonesia fell into recession for the first time in over two decades in the third quarter as the COVID-19 pandemic battered consumption and business activity in Southeast Asia's largest economy, official data showed on Thursday. Gross domestic product (GDP) shrank 3.49% on an annual basis in the July-September period, data from the statistics bureau showed, slightly more than the 3% contraction expected in a Reuters poll.

The economy contracted 5.32% year-on-year in the second quarter. Indonesia's first.

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