Indonesia GDP expands 5.05% in Q2
- Last updated: August 5, 2024 | 18:01
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Indonesia’s economy grew slightly more than 5.0 percent in the second quarter as the deceleration in government spending growth was offset by household consumption and investment.
Gross domestic product grew 5.05 percent on a yearly basis compared to 5.11 percent in the prior quarter, data released by Statistics Indonesia showed Monday. Economists had forecast the economy to grow 5.0 percent.
Quarter-on-quarter, GDP advanced 3.79 percent, better than the expected growth of 3.71 percent.
Southeast Asia’s largest economy expanded 5.08 percent in the first half of the year.
The expenditure-side breakdown showed that household spending advanced 4.93 percent from a year ago amid festive season.