Indonesia Q3 GDP growth slows to 5.02%

Indonesian officials say that in the July-to-September period, the country's economy expanded 5.02 percent compared to a year ago as sluggish global trade weighed on the economy.

The numbers mark the third consecutive quarter of slowing growth and make it difficult for the government to achieve its growth target of 5.3 percent for the year.

Officials blamed lower demand for natural resources. Prices of palm oil and coal have fallen amid the US-China trade row and a global slowdown. Strong consumer spending wasn't enough to make up for the shortfall.

The country's central bank has cut its policy rate 4 times in the 4 months until October in a bid to boost the economy.