Last year I commented on how gloomy forecasters’ had been on Indonesia’s economic growth. Guess what: They still are.
The average forecast of first quarter growth by a Dow Jones Newswires poll of 12 regional economists is 5.75 percent. The economy actually grows by 6 percent. On average, they miss the target by about 25 percentage points.
So, will all the glooms go away? Maybe not yet. As the good news about Indonesia’s economy continues flowing, however, the forecasters would have to eventually turn about face.
I mean, it would embarrassing for them to consistently underestimate the strength of Indonesia’s economy, right?