JAKARTA (AFP) – Indonesia’s economic growth accelerated faster than expected in the second quarter of the year, official data showed yesterday, the strongest rate in three quarters despite lagging exports.
Southeast Asia’s largest economy grew 5.17 per cent on-year between April and June, according to Statistics Indonesia, beating analysts’ expectations.
The continued growth was driven by household spending, foreign and domestic investment and increased government spending, Statistics Indonesia official Edy Mahmud told reporters.
“During the second quarter of 2023, Indonesia’s economic performance was supported by the increase of people’s mobility and religious holidays that drive up people’s consumption and production activities,” Mahmud said.
