Q4 GDP predicted at 5.00 yy, vs 4.94 in Q3
Q4 GDP predicted at 0.41 qq, vs 1.60 in Q3

BENGALURU, Feb 1 Reuters Indonesia39;s economy grew 5.0 in the fourth quarter from a year earlier, supported by resilient domestic consumption, despite exports shrinking and commodity prices falling, a Reuters poll of 23 economists found.

Growth in Southeast Asia39;s largest economy was mostly driven by private consumption which remains strong against a cumulative 250 basis points of interest rate hikes by Bank Indonesia since August 2022.

The poll median for 5.00 growth last quarter from the previous year was slightly faster than the 4.94 expansion in the preceding quarter. The latest data will be released on Feb. 5.

On a quarteronquarter basis, the economy grew 0.41 in the OctoberDecember period, according to a smaller sample in the Jan. 2531 Reuters poll.

The current policy rate is not tight enough to hinder economic growth because consumer appetite to withdraw loans remains robust and we saw good performance in terms of consumption, working capital and investment, said Irman Faiz, an economist at Bank Danamon.

Bank Indonesia is on the same page with us, they are seeing resilient growth last year, despite the global economic slowdown and export contraction.

The resourcerich country recently reported a fall in its 2023 trade surplus as exports and imports dropped amid falling commodity prices.

Furthermore, weak demand from China, Indonesia39;s biggest trading partner, adds…