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Financial News: Indonesia Economy Expands As Expected In Q3

Indonesia Economy Expands As Expected In Q3

11/05/2019 - 03:49:00 (RTTNews)

(RTTNews) - Indonesia's economy expanded as expected in the third quarter, data from the statistical bureau said Tuesday.

Gross domestic product grew 5.02 percent year-on-year in the third quarter versus 5.05 percent expansion seen in the second quarter. The rate was broadly in line with expectations.

On a quarterly basis, the economy expanded 3.06 percent in the third quarter, slower than the 4.2 percent growth posted in the second quarter.

The expenditure-side breakdown showed that household spending and government spending climbed 5.01 percent and 0.98 percent, respectively. Investment increased by 4.21 percent annually.

Exports rose only 0.02 percent, while imports plunged 8.61 percent.

Gareth Leather, an economist at Capital Economics, said the official figures overstate health of the economy.

While official figures are likely to remain stuck at around 5.0 percent over the coming quarters, actual growth is expected to come in at around 4.5 percent, the economist added.

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