Q3 GDP growth at 4.95 yy vs 5.05 in Q2
Q3 household consumption slowed, investment accelerated
2024 growth seen at around 5, econ minister says
JAKARTA, Nov 5 Reuters Indonesia39;s gross domestic product in the third quarter increased 4.95 from a year earlier, its slowest pace in a year, data from the statistics bureau showed on Tuesday, as household consumption showed softer growth.
The thirdquarter result came slightly below annual growth of 5 expected by analysts polled by Reuters and compared with an increase of 5.05 in the second quarter.
On a quarterly, nonseasonally adjusted basis, GDP grew 1.50, compared with a forecast of 1.59.
Household consumption, which makes up about half of Indonesia39;s GDP, grew 4.91 annually in the third quarter, off the previous quarter39;s growth of 4.93, amid slower spending for goods such as clothing and housing, Amalia Widyasanti, the acting head of Statistics Indonesia, told reporters.
Investment grew 5.15 yearonyear, its fastest pace in a year, supported by investment in the new capital city and other infrastructure projects, she added. Government spending and exports also expanded more.
Thirdquarter growth numbers met our expectations as investment growth and pickup in exports compensated for soft household consumption, said DBS Bank economist Radhika Rao.
Fullyear GDP growth is expected at around 5, said Airlangga Hartarto, the chief economic minister.
We will continue to support household consumption and also…