Indonesian economy growth beats estimates
JAKARTA: Indonesia's economic growth surpassed analyst estimates in the final three months of 2015 as President Joko Widodo stepped up efforts to revitalize Southeast Asia's biggest economy. Gross domestic product grew 5.04 percent in the fourth quarter from a year earlier, the statistics bureau said in Jakarta on Friday, exceeding all estimates in a Bloomberg News survey. The economy grew 4.79 percent in 2015, from a previously reported 5.02 pace the year before. "Not a sheepish end to the year at all," said Wellian Wiranto, an economist at Oversea-Chinese Banking Corp. in Singapore. "This does point to a strengthening momentum of growth. It's a good sign that 2016 should see better growth prospects than the previous year." The Jakarta Composite Index extended gains after the data to rise 1.8 percent as of 9:50 a.m. local time, heading for the highest close in nearly six months. The rupiah pared losses to trade 0.1 percent lower at 13,653 a dollar, according to prices from local banks. Indonesia's sovereign bonds rose, pushing the 10-year yield down four basis points to 8.07 percent, the lowest since May 2015, according to the Inter Dealer Market Association.