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Financial News: Indonesia Q2 GDP Growth Improves More Than Forecast

Indonesia Q2 GDP Growth Improves More Than Forecast

08/05/2022 - 02:25:00 (RTTNews)

(RTTNews) - Indonesia's economic growth accelerated more-than-expected in the three months ended June, Statistics Indonesia reported on Friday.

Gross domestic product advanced 5.44 percent year-over-year in the second quarter, faster than the 5.01 percent rise in the previous quarter.

That was also above the 5.17 percent rise expected by economists.

On the expenditure-side, household consumption grew 5.51 percent annually in the second quarter and gross fixed capital formation rose 3.07 percent. Meanwhile, government final consumption declined 5.24 percent.

Exports and imports surged 19.74 percent and 12.34 percent, respectively.

On a quarterly basis, GDP expanded 3.72 percent in the June quarter, reversing a 0.95 percent fall in the March quarter. The expected growth was 3.44 percent.

The general government final consumption expenditure component experienced the highest quarterly growth at 32.00 percent.

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