Market Pulse: A New Contraction Pattern

The Indonesian government takes pride in its economic growth figures. There is nothing wrong with that. Indeed, our economic growth was the third highest among G-20 countries. But there is one phenomenon that the government should be paying more attention to. Since 2015, instead of growing, the Indonesian economy has always shrunk in the first quarter of each year.

Quarterly growth is rarely examined. Politicians and laymen normally pay more atten

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