Indonesia economy contracted by 5.32% YoY in 2Q20 or 4.19% QoQ, as the full effects of Covid-19 were felt the most during that period. Globally, several other countries have also reported contractions for 2 consecutive quarters which put them into recession territory. Some of these economies are: United States, Eurozone, Hong Kong, South Korea, and Singapore. However, a more encouraging news came from China which had an economic growth of 3.2% YoY in 2Q20 which marked a successful rebound after the disease started to hit the country in late 2019.
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