Southeast Asia's largest economy expanded 5.5% in July-September, up from 5.3% in the previous three months.
Key takeaways
Indonesia's economy grew 5.5% in the third quarter, exceeding forecasts and driven by strong household and government spending. Economists project 5.4% growth for the current year, though President Prabowo Subianto aims for 8% by 2029.
- Third-quarter growth reached 5.5%, surpassing the 5.2% average forecast from a Bloomberg economist survey.
- Household expenditure rose 5% year-on-year, while investment increased by 6.1% during the period.
- Bank Danamon economist Irman Faiz projects 5.4% growth for the current year and 5.1% in 2027.
Summarised automatically by AI from the original article by Free Malaysia Today. AI can make mistakes, so check the original for details.
Indonesian president Prabowo Subianto is chasing a growth target of 8% by 2029. (EPA Images pic)JAKARTA: Indonesia's economic growth picked up pace and topped forecasts in the third quarter, official data showed Thursday, thanks to strong household spending and investment.
Southeast Asia's largest economy expanded 5.5% in July-September, from 5.3% in the previous three months.
The reading beat the 5.2% growth projected in a survey of economists by Bloomberg.
The expansion was driven in part by a strong growth in household and government expenditure as well as investment, Statistics Indonesia official Moh Edy Mahmud told a news conference.
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