Indonesia's economy slowed in the first quarter of 2011. According to the official data agency, Statistics Indonesia (BPS), real GDP expanded by 6.5% year on year, down from growth of 6.9% in the fourth quarter of 2010. Private consumption expenditure was the main driver of economic growth, expanding by 4.5%, from 4.4% previously, making a 2.6-percentage-point contribution to overall GDP growth. All of the other main expenditure accounts slowed compared with the previous quarter. Government consumption expanded by 2.9%, down from 7.3% previously, contributing only 0.2 percentage points to growth. Meanwhile, gross fixed investment was up by 7.3%, down from 8.7% previously. It contributed 1.7 percentage points to economic growth. Exports of goods and services expanded by 12.2% year on year in the first quarter, compared with 16.1% in the previous quarter, while imports of goods and services were up by 15.6%, compared with 16.9% previously. As a result, net exports contributed only 0.1 percentage points to growth-down from a contribution of 1.6 percentage points in the fourth quarter of 2010. After private consumption and fixed investment, the biggest contribution to overall GDP growth came from changes in stocks, which rose by Rp5.7trn at constant prices, as firms rebuilt their inventories. The government expects the economy to expand by 6.4% this year, up from 6.1% in 2010, but Mr Rajasa, who is the co-ordinating minister for the economy, responded to the latest GDP results by stating that he was "not happy" with the low level of government expenditure, adding that ministries would have to do more to achieve their spending targets.

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