Despite Improvement, Jakarta's Economy Still Negative 1.65% in Q1 2021
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Jakarta's economy still recorded a year-on-year (YoY) growth of -1.65% in Q1 2021. This marks four consecutive quarters of economic contraction in Jakarta since Q2 2020.
However, the economic contraction in the capital city has gradually recovered, as the contraction rate has lessened compared to the previous quarter. This is driven by the Covid-19 vaccination program, which has boosted optimism in conducting economic activities.
Based on the business sector, health services and social activities showed the highest growth in Jakarta in Q1 2021, namely 14.96%. This was followed by the information and communication sector and water supply, which grew by 7.9% and 2.77% respectively.
Meanwhile, the accommodation and food service sector experienced the highest contraction at -10.37%. The lowest growth was also experienced by other service sectors and financial services at -9.59% and -7.35% respectively.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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