JAKARTA : Indonesia’s annual economic growth held just above 5 per cent in the second quarter, roughly in line with the expectations of authorities and the market, data from the statistics bureau showed on Monday.
Gross domestic product in the April-June quarter expanded 5.05 per cent from a year earlier, compared with 5.11 per cent in the first quarter.
Economists polled by Reuters as well as government officials had expected Southeast Asia’s largest economy to post 5.0 per cent annual growth for the April-June period.
Second-quarter growth was bolstered by spending during religious holidays and rising farmers’ income during the harvest season, Statistics Indonesia deputy head M. Edy Mahmud said.
Household spending – which accounts for more than half of GDP – grew 4.93 per cent in the second quarter, barely changed from growth in the previous quarter.
Government spending, meanwhile, only expanded 1.42 per cent in the second quarter, slowing sharply from growth of almost 20 per cent in the first quarter that reflected spending for the February general election.
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