Indonesia economy disappoints with 4.95% growth in Q3

Weak consumption means Prabowo's 8% target will be 'challenging,' analyst says

Household consumption remains the biggest driver of Indonesia's economy. (Photo by Yuki Kohara)

NANA SHIBATA, Nikkei staff writer

November 5, 2024 13:24 JST

Updated on November 5, 2024 15:05 JST

JAKARTA -- Indonesia's economy grew 4.95% in the July-to-September quarter compared to a year earlier, falling slightly short of analysts' expectations, the country's statistics agency said on Tuesday.

In a Reuters poll of economists, the consensus view was for gross domestic product in Southeast Asia's largest economy to expand 5% in the quarter, down from the 5.05% growth recorded for the April-to-June quarter.