Indonesia fourth-quarter GDP expands 6.9%

Indonesia's gross domestic product expanded a faster-than-expected 6.9% in the fourth quarter of 2010 from the year-earlier period, resulting in a full-year growth of 6.1%, according to reports. The quarterly expansion compares with an estimated increase of 6.3% in a survey compiled by FactSet Research. 

However, the Southeast Asian country's GDP contracted 1.4% in the quarter ended Dec. 31 as compared with the July-to-September period, although even that contraction was better than the 2.1% decline estimated in a Reuters poll. The stronger GDP data comes after Bank Indonesia raised its benchmark interest rates by 0.25 percentage point to 6.75% last week to cool inflationary pressures. Source: Marketwatch